Use the following information: a. Federal Income Tax Withholding Calculation: Use Percentage Method b. State Income Tax Withholding Rate: 5% C. Social Security Taxable Wage Base: $132,900 d. Social Security Tax Rate: 6.2% e. Medicare Tax Rate: 1.45% f. Additional Medicare Tax Rate: 0.9% g. Additional Medicare Tax Thresholds: Filing Status Single/Head of household/qualifying widower Married filing jointly Married filing separately Earnings Threshold $200,000 $250,000 $125,000 | 1. Lord Farquaad's filing status is Single, and he has earned gross pay of $2,950. Each period he makes a 403(b) contribution of 6% of gross pay and contributes $145 to a flex spending plan. His current year taxable earnings for Medicare tax, to date, are $198,320. Calculate his Social Security tax and his Medicare tax for this pay period. Use the following information: a. Federal Income Tax Withholding Calculation: Use Percentage Method b. State Income Tax Withholding Rate: 5% C. Social Security Taxable Wage Base: $132,900 d. Social Security Tax Rate: 6.2% e. Medicare Tax Rate: 1.45% f. Additional Medicare Tax Rate: 0.9% g. Additional Medicare Tax Thresholds: Filing Status Single/Head of household/qualifying widower Married filing jointly Married filing separately Earnings Threshold $200,000 $250,000 $125,000 | 1. Lord Farquaad's filing status is Single, and he has earned gross pay of $2,950. Each period he makes a 403(b) contribution of 6% of gross pay and contributes $145 to a flex spending plan. His current year taxable earnings for Medicare tax, to date, are $198,320. Calculate his Social Security tax and his Medicare tax for this pay period