PSa 4-2 Calculate Social Security Tax

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 $760. Each period he makes a 401(k) contribution of 3% of gross pay, and his current year taxable earnings for Social Security tax, to date, are $61,500.

Total Social Security tax = $

2:

Rachel Schillo earned gross pay of $2,100. She does not make any retirement plan contributions, and her current year taxable earnings for Social Security tax, to date, are $107,500.

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 $131,600.

Total Social Security tax = $

4:

Michael Frank earned gross pay of $2,650. Each period he designates 6% of gross pay for a dependent care flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $224,300.

Total Social Security tax