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McBean Farms has the following information on their Form 941: 2 140,328.00 3 16,264.00 X Check and go to line 6. 2 Wages, tips, and
McBean Farms has the following information on their Form 941: 2 140,328.00 3 16,264.00 X Check and go to line 6. 2 Wages, tips, and other compensation 3 Federal income tax withheld from wages, tips, and other compensation 4 If no wages, tips, and other compensation are subject to social security or Medicare tax Column 1 Column 2 5a Taxable social security wages x 0.124 = 5b Taxable social security tips x 0.124 = 5c Taxable Medicare wages & tips x 0.029 = Taxable wages & tips subject to Additional Medicare Tax 5d x 0.009 = withholding What amount should be entered in Column 2, Lines 5a and 5c? (Assume no Section 125 health insurance and that none of the employees had exceeded the Social Security wage base.) O $17,400.67 and $4,069.51, respectively $140,328.00 O $8,700.34 and $2,034.76, respectively O $156,592
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