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Calculating Social Security and Medicare Taxes Assume a Social Security tax rate of 6 . 2 % is applied to maximum earnings of $ 1

Calculating Social Security and Medicare Taxes
Assume a Social Security tax rate of 6.2% is applied to maximum earnings of $128,400 and a Medicare tax rate of 1.45% is applied to all earnings. Calculate the Social Security and Medicare taxes for the following situations:
If required, round your answers to the nearest cent.
\table[[\table[[Cumul. Pay],[Before Current],[Weekly Payroll]],\table[[Current],[Gross Pay]],\table[[Year-to-Date],[Earnings]],\table[[Soc. Sec.],[Maximum]],\table[[Amount],[Over Max.],[Soc. Sec.]],\table[[Amount],[Subject to],[Soc. Sec.]],\table[[Soc. Sec. Tax],[Withheld]],\table[[Medicare],[Tax],[Withheld]]],[$31,000,$1,720,1,720,$128,400,0,,,],[53,500,2,620,2,620,128,400,0,,,],[125,000,3,440,,128,400,0,,,],[127,700,2,900,,128,400,0,,,]]
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