**FICA Tax Computation for Rachael Parkins**During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $8,000. Compute the amount of FICA taxes that should be withheld from her.**Note:** Rachael's tax return status is single. **If an amount is zero, enter "0".****Paycheck Computation Details:**a. **9th Paycheck**- **OASDI:** $ _________- **HI:** $ _________b. **17th Paycheck**- **OASDI:** $ _________- **HI:** $ _________c. **24th Paycheck**- **OASDI:** $ _________- **HI:** $ _________d. **Additional HI Tax Calculation**If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $192,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld?- **Additional 0.9% HI Tax:** $ _________**Explanation of Terms:**- **OASDI (Old-Age, Survivors, and Disability Insurance):** Part of the Social Security tax.- **HI (Health Insurance):** Part of the Medicare tax.Make sure to input values as required for accurate tax computation.

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OASDI HI a. 9th paycheck b. 17th paycheck c. 24th paycheck d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $192,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld?

OASDI HI a. 9th paycheck b. 17th paycheck c. 24th paycheck d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $192,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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