7A-2. Compute the net pay for each employee using the federal income tax withholding table in Figure 7.2. Assume that FICA OASDI tax is 6.2% on a wage base limit of $117,000, Medicare is 1.45% on all earnings, the payroll is paid biweekly, and no state income tax applies. Status Allowances Employee Xu Daoning William Pierce Cumulative Pay $59,000 2 Single Single Biweekly Pay $1,650 0 61,500 1,630 Paste BTU 9. A Merg Clipboard Font Alignment A31 X A B 1 EXERCISE TA-2 Xu Daoning William Pierce $1,650 $1,630 4 5 6 Gross earnings for the current pay period & Deductions for employee withholding taxes. 9 Federal income tax HOOASDI tax 11 Medicare tax 12 Total deductions 13. Net pay 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Type here to search