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-DateEarnings Current Month Social Security Medicare Andretti, K. $141,000 $12,850

College Accounting (Book Only): A Career Approach
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Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 7E
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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. $141,000 $12,850    
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