Using the earnings data given in Exercise 10.3, determine the amount of Medicare tax to be withheld

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Using the earnings data given in Exercise 10.3, 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.

In Exercise 10.3, The monthly salaries for December and the year-to-date earnings of the employees of Canzano Consulting Company as of November 30follow.

Using the earnings data given in Exercise 10.3, determine the
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College Accounting A Contemporary Approach

ISBN: 978-0077639730

3rd edition

Authors: David Haddock, John Price, Michael Farina

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