Pat Maninen earns a gross salary of $3,650 each week. Assume a rate of 6.2% on $142,800 for Social Security and 1.45% for Medicare. a. What are Pat's first week's deductions for Social Security and Medicare? Note: Round your answers to the nearest cent. Social Security Medicare Deductions b. Will any of Pat's wages be exempt from Social Security and Medicare for the calendar year? Note: Leave no cells blank - be certain to enter "0" wherever required. Social Security Medicare
Pat Maninen earns a gross salary of $3,650 each week. Assume a rate of 6.2% on $142,800 for Social Security and 1.45% for Medicare. a. What are Pat's first week's deductions for Social Security and Medicare? Note: Round your answers to the nearest cent. Social Security Medicare Deductions b. Will any of Pat's wages be exempt from Social Security and Medicare for the calendar year? Note: Leave no cells blank - be certain to enter "0" wherever required. Social Security Medicare
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 1PB
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nit.4
![Pat Maninen earns a gross salary of $3,650 each week. Assume a rate of 6.2% on $142,800 for Social Security and 1.45% for Medicare.
a. What are Pat's first week's deductions for Social Security and Medicare?
Note: Round your answers to the nearest cent.
Social Security
Medicare
Deductions
b. Will any of Pat's wages be exempt from Social Security and Medicare for the calendar year?
Note: Leave no cells blank - be certain to enter "0" wherever required.
Social Security
Medicare](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffa3d96e9-4d1d-4dc9-97dd-85bfa623c9aa%2F290466fb-0c8c-4aca-885f-25d4ba9073c9%2Fx3bnbj_processed.png&w=3840&q=75)
Transcribed Image Text:Pat Maninen earns a gross salary of $3,650 each week. Assume a rate of 6.2% on $142,800 for Social Security and 1.45% for Medicare.
a. What are Pat's first week's deductions for Social Security and Medicare?
Note: Round your answers to the nearest cent.
Social Security
Medicare
Deductions
b. Will any of Pat's wages be exempt from Social Security and Medicare for the calendar year?
Note: Leave no cells blank - be certain to enter "0" wherever required.
Social Security
Medicare
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