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How is this solved? Exercise 1 Completed 0 Out of 11 1112 CALENDAR CALCULATOR CHECK MY WORK SAVE ASSIGNMENT BACK TO ASSIGNMENTS PSa 4-1 Calculate
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Exercise 1 Completed 0 Out of 11 1112 CALENDAR CALCULATOR CHECK MY WORK SAVE ASSIGNMENT BACK TO ASSIGNMENTS PSa 4-1 Calculate Taxable Earnings for Social Security Tax For each employee listed below, calculate the taxable earnings for Social Security tax for the described pay period. Note that none of these employees exceed the Social Security taxable wage base during the year. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: Devin Moody earned gross pay of $1,350 during a recent pay period. He contributes 14% of gross pay to a 403(b) retirement plan and $90 each pay period to a cafeteria plan Taxable earnings = 2. Jaclyn Connor earned gross pay of $1.800 during a recent pay period. She contributes 10% of gross pay to a 401(k) retirement plan and 4% of gross pay to a dependent care flexible spending account. Taxable earnings = $Step by Step Solution
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