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 45 hours (45 - 40 were overtime hours) during a workweek in December of 2019. He came $41.50/hour, with his employer paying 15 times the regular rate of pay for overtime hours. To date, he has eamed $132.300 during the year. He has requested that his employer withhold 6% 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 - 5 Taxable income for medicare tax = 5 2: An employee works 35 regular hours during a workweek in August of 2019. He was hired four years ago, cams a salary of $134 700/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 85% of grosse which is to be contributed to a 401(k) pian. Taxable income for federal income tax withholdings Taxable income social security tax - $ Taxable income for medicare tax 5 3: An employee works 52 hours (52 - 40 were overtime hours) during a workweek in December of 2019. He was $9,000/month, with his employer paying 1.5 times the regular rate of pay for overtime hours. To date, he has earned $109.900 during the year. He has requested that his employer withhold 12% of gross pay to contribute to a 403b) plan Tixable income for federal income tax withholding - 5 Taxable income for social security tax Taxable income for medicare tax