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The monthly salaries for December and the year-to-date earnings of the employees of Bush Consulting Company as of November 30 follow. Determine the amount of
The monthly salaries for December and the year-to-date earnings of the employees of Bush Consulting Company as of November 30 follow. Determine the amount of Medicare tax to be withheld from each employee's gross pay for December. Assume a 1.45 percent Medicare tax rate and that all salaries and wages are subject to the tax. (Round your final answers to 2 decimal places.) Medicare Taxable Earning- December Year-to-Date December Salary Employee No. Earnings Through November 30 Medicare Tax 1.45% 9,900 $ 99,000 1 $ 2 10,000 70,000 10,709 117,799 100,000 4 10,000
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