Eric She began working as a of $790 by the restaurant Comte A of $430th water on 1. 2019 Yanville Restaurant the cash nd Hrund your answers to the nearestent a. The amount of ICAs that the employer should withhold from Shemages during May The amount of the employer's ICAs on herm's woes and touring May Note: In this chapter and in all succeeding work throughout the course, unless Instructed otherwise use the following rates, ceiling, and maximum taxes. Employee and Employer OASDI: 6.20% $128,400 $7.960.80 Employee and Employer HI: 1.4596 No limit No maximum Self-employed OASDI 12.496 $128.400 $15.921.60 Self-employed HI 2.9% No limit No maximum 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the over time rate) 2. If the third decimal place is 5 or more, round to the next higher cent. 3. If the third decimal place is less than 5, simply drop the third decimal place. Examples: Monthly rate $1,827 Weekly rate ($1,827 x 12)/52 - $421.615 rounded to $421.62 Hourly rate $421.62/40 - $10.540 rounded to $10.54 O.T. rate $10.54 x 1.5 - $15.81 Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. "Employee HII Plus an additional 0.9% on wages over $200.000. Also applicable to self-employed. Example 3-1 Eric Sherm began working as a part-time waiter on April 1, 2019, at Vardville Restaurant. The cash tips of $430 that he received during April were report Form 4070, which he submitted to his employer on May 1. During May, he was paid wages of $790 by the restaurant. Compute OASDI and HD) round yo answers to the nearest cent. OASDI . The amount of FICA taxes that the employer should withhold from Sherm's wages during May. b. The amount of the employer's FICA taxes on Sharm's wages and tips during May