First Question Journal Instructions Assume that the social security tax rate is 6% and the Medicare tax rate is 1.5%. In the following summary of data for a payroll period, some amounts have been intentionally omitted Earnings: 1. At regular rate ? 2. At overtime rate $70,000 3. Total earnings Deductions 4. Social security tax 37,800 5. Medicare tax 9.450 6. Federal income tax withheld 134,000 7. Medical insurance 22,050 ? 8. Union dues 9. Total deductions 10. Net amount paid 209,800 420,200