FIT:

S.S:

Med:

Net Pay:

Four answers for the question

Assume a tax rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare. No one will reach the maximum for FICA. Complete the following payroll register. (Use the percentage method to calculate FIT for this weekly period.) (Use and . (Do not round intermediate calculations and round your final answers to the nearest cent.) Assume a tax rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare. No one will reach the maximum for FICA. Complete the following payroll register. (Use the percentage method to calculate FIT for this weekly period.) (Use and . (Do not round intermediate calculations and round your final answers to the nearest cent.)