Based on the regular and overtime pay, what is the total FICA tax $($Social Security tax $+$

Medicare tax$)$ you would have expected Tech It Easy Inc. to pay as the employer$$s

payroll taxes for the first six months of $2024?$

Create a formula to calculate these expected tax payments separately for Social Security

and Medicare taxes for each individual employee and then use the SUM function to

create separate totals for the expected Social Security and Medicare tax payments.

Assume $($a$)$ a maximum contribution threshold in $2024$ of $$168,600$ for Social Security

tax $(6\mathrm{.}2\%),$ and $($b$)$ all employees file as single taxpayers and that the Medicare tax on

wages is $1\mathrm{.}45\%$ with no maximum$/$cap$.$ You do not need to calculate the $0\mathrm{.}9\%$ Additional

Medicare Tax.Based on the regular and overtime pay, what is the total FICA tax $($Social Security tax $+$

Medicare tax$)$ you would have expected Tech It Easy Inc. to pay as the employer$$s

payroll taxes for the first six months of $2024?$

Create a formula to calculate these expected tax payments separately for Social Security

and Medicare taxes for each individual employee and then use the SUM function to

create separate totals for the expected Social Security and Medicare tax payments.

Assume $($a$)$ a maximum contribution threshold in $2024$ of $$168,600$ for Social Security

tax $(6\mathrm{.}2\%),$ and $($b$)$ all employees file as single taxpayers and that the Medicare tax on

wages is $1\mathrm{.}45\%$ with no maximum$/$cap$.$ You do not need to calculate the $0\mathrm{.}9\%$ Additional

Medicare Tax.