Need help with this question . **Calculate Social Security taxes, Medicare taxes, and FIT for Jordon Barrett**Jordon Barrett earns a monthly salary of $11,300. He is single and claims 1 deduction. Before this payroll, Barrett's cumulative earnings were $128,070. Here are the key points and calculations to determine the taxes:- **Social Security Maximum:** 6.2% on $128,400- **Medicare Rate:** 1.45%### Steps to Calculate:1. **Social Security Tax Calculation:** - Earnings before this payroll: $128,070 - Monthly Salary: $11,300 - New cumulative earnings: $128,070 + $11,300 = $139,370 - Since $139,370 exceeds $128,400, only $330 of the current salary ($128,400 - $128,070) is subject to Social Security tax. - Tax Calculation: $330 * 6.2% = $20.462. **Medicare Tax Calculation:** - Entire monthly salary is subject to Medicare tax. - Tax Calculation: $11,300 * 1.45% = $163.853. **Federal Income Tax (FIT) Calculation:** - Use the percentage method and refer to Table 9.1 and Table 9.2. - For a monthly salary of $11,300, the FIT will be computed based on the provided tables.### Results (Rounded to 2 decimal places):- **FIT:**- **Social Security Taxes:** $20.46- **Medicare Taxes:** $163.85Please ensure to refer to Table 9.1 and Table 9.2 for accurate FIT calculation as per the percentage method stated in your course material.### Table for Recording Results:| Category | Amount ($) | |-------------------------|------------|| FIT | || Social Security taxes | 20.46 || Medicare taxes | 163.85 |> Ensure all calculations are double-checked and confirmed with the latest tax tables and percentage methods. ### Federal Income Tax Withholding Tables (For Wages Paid in 2018)The following tables provide guidelines for income tax withholding amounts based on wage amounts and payroll periods for both single and married individuals.#### TABLE 1 – WEEKLY Payroll Period**(a) SINGLE person (including head of household)—**- **If the amount of wages (after subtracting withholding allowances) is:** | Over | But not over | The amount of income tax to withhold is | |-----------|--------------|-------------------------------------------| | $0 | $71 | $0.00 plus 10% of excess over $0 | | $71 | $254 | $7.10 plus 12% of excess over $71 | | $254 | $815 | $30.04 plus 22% of excess over $254 | | $815 | $1,658 | $137.66 plus 24% of excess over $815 | | $1,658 | $3,100 | $341.02 plus 32% of excess over $1,658 | | $3,100 | $3,917 | $819.14 plus 35% of excess over $3,100 | | $3,917 | $9,687 | $1,106.02 plus 37% of excess over $3,917 | | Over $9,687| | $2,898.10 plus 37% |**(b) MARRIED person—**- **If the amount of wages (after subtracting withholding allowances) is:** | Over | But not over | The amount of income tax to withhold is | |-----------|--------------|-------------------------------------------| | $0 | $222 | $0.00 plus 10% of excess over $0 | | $222 | $588 | $36.60 plus 12% of excess over $222 | | $588 | $1,711 | $85.56 plus 22% of excess over $588 | | $1,711 | $3,409 | $317.46 plus 24% of excess over $1,711 | | $3,409

Federal income tax (FIT) is a tax on the annual income of a taxpayer. Federal income tax rate…

Calculate Social Security taxes, Medicare taxes, and FIT for Jordon Barrett. He earns a monthly salary of $11,300. He is single and claims 1 deduction. Before this payroll, Barrett's cumulative earnings were $128,070. (Social Security maximum is 6.2% on $128,400 and Medicare is 1.45%.) Calculate FIT by the percentage method. (Use Table 91 and Table 9.2) (Round your answers to 2 decimal places.)