Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit, for Medicare tax.Calculate the monthly Social Security and Medicare withholdings (in $) for the employee as the payroll manager for a cargo and freight company. (Round your answers to the nearest cent.)

Employee	Year-to-Date Earnings	Current Month	Social Security	Medicare
Andretti, K.	$148,000	$13,250	$	$

Answer rating: 100% (QA)

Given that the yearly salary is 13250 Thus 62 is applied as ... View the full answer