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.

For this question the threshold for 2019 SS tax is $132, 900.

Thank you!

3: An employee works 53 hours (53 - 40 were overtime hours) during a workweek in December of 2019. He earns $12,000/month, with his employer paying 1.5 times the regular rate of pay for overtime hours. To date, he has earned $134,400 during the year. He has requested that his employer withhold 8.5% of gross pay, which is to be contributed to a 401(k) plan. Taxable income for federal income tax withholding = $ 4,083.19 X Taxable income for social security tax = $ Taxable income for medicare tax $ =