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For each of the following employees, calculate the Social Security tax for the weekly pay period described: NOTE: For simplicity, all calculations throughout this exercise,
For each of the following employees, calculate the Social Security tax for the weekly pay period described: NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: Alfred Morneau earned gross pay of $840. Each period he makes a 401 (k) contribution of 4% of gross pay, and his current year taxable earnings for Social Security tax, to date, are $42,500. Total Social Security tax =$ 2: Rachel Schillo earned gross pay of $2,300. She does not make any retirement plan contributions, and her current year taxable earnings for Social Security tax, to date, are $106,400. Total Social Security tax=$ 3: Rudolph Fabrizio earned gross pay of $3,600. Each period he contributes 4% of gross pay to a flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $141,500. Total Social Security tax =$ 4: Michael Frank eamed gross pay of $2,800. Each period he designates 8% of gross pay for a dependent care flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $231,400. Total Social Security tax =$
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