Question: Help Please Help Save & Exit Submit The monthly salaries for December and the year-to-date earnings as of November 30 for the three employees of

Help Please
Help Please Help Save & Exit Submit The monthly salaries for December

Help Save & Exit Submit The monthly salaries for December and the year-to-date earnings as of November 30 for the three employees of the Lakeview Medical Center are listed below. Compute the amount of social security tax and Medicare tax to be withheld from each of the employee's gross pay for December. Assume a 6.2 percent social security tax rate on a maximum of $122,700 for the calendar year. Assume a 1.45 percent Medicare tax rate. (Round your answers to 2 decimal places.) Employee DecemberY-T-D Earnings Soc. Sec. Medicare Tax Number Salary through Nov. 30 Tax for Dec. for Dec. $ 8,300 $ 70,300 9,800 119,600 3 9 ,300 102,700

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!