For each employee, first calculate gross pay. Then determine taxable income used to calculate federal income tax withholding, Social Security tax, and Medicare tax NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation 1: An employee works 42 hours (42-40 were overtime hours) during a workweek in December of 2021. He eams $40.50/hour, with his employer paying 1.5 smes the regular rate of pay for overtime hours. To date, he has earned $142,200 during the year. He has requested that his employer withhold 7% of gross pay, which is to be contributed to a 403(b) plan Taxable income for federal income tax withholding $ Taxable income for social security tax $ Taxable income for medicare tax $ 2. An employee works 37 regular hours during a workweek in August of 2021. He was hired four years ago, eams a salary of $140,200/year, and is exempt from the overtime provisions of the FLSA. To date, he has received no compensation beyond his annual salary. He has requested that his employer withhold 8% of gross pay which is to be contributed to a 401(k) plan. Taxable income for federal income tax withholding 5 Taxable income for social security tax-$ Taxatie income for medicare tax $ 3 An employee works 50 hours (50-40 were overtime hours) duting a workweek in December of 2021. He eams $9,500 month, with his employer paying 1.5 times the regular rate of pay for overtime hours. To date, he has earned $114,500 during the year. He has requested that his employer withhold 13% of gross pay to contribute to a 403) plan Taxable income for federal income tax withholding s Taxable income for social securtly tax s Taxable income for medicare tax-