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Calculate the Social Security and Medicare deductions for the following employee (assume a tax rate of 6.2% on $128,400 for Social Security and 1.45% for
Calculate the Social Security and Medicare deductions for the following employee (assume a tax rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare): (Leave no cells blank - be certain to enter "0" wherever required. Round your answers to the nearest cent.)
employee | cumulative earnings before this pay period | pay amount this period | social security this period | medicare this period |
merlin | $398,700 | $6200 |
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