Please answer and compute formulas in Excel attachment

Exercise 5. The monthly wages For December, 2016 and the year-to-date earnings as of November 30 for the three employees of the Elegant Inc. are listed in the table below. Requirements: 2. Calculate the amount of FICA: Social Security Tax and Medicare Tax to be withheld from each of the employee's gross (December only). Apply a 6.2 percent as a social security tax rate using the annual limit of the contribution and benet base. For earnings in 2016, this base is '-118 500. Also a- -| a 1.45 -ercent as a Medicare tax rate. Employee December The year-to- Social Medicare Tax Salary date Security Tax (December, earnings up (December, 2016) to November Rod Cast $2,900 $ $ 3; Veronica 10,800 Ergo Ann Lola 9,650