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# Jones Company has the following employees on payroll:

Please explain how you calculated the social security tax and the Medicare. I know how to get the federal but not these two.

Jones Company has the following employees on payroll:

Semimonthly Withholding Marital
Payroll Allowances Status

Heather \$4,500 4 Married
Keith \$4,800 3 Married
Abbie \$3,500 2 Single

Calculate the payroll for the last pay period in April. Include in your calculations federal withholding, social security and Medicare taxes.

Heather: FIT - \$548.97 Keith: FIT - \$670.49
SS- \$279.00 SS - \$297.60
Medicare - \$65.25 Medicare - \$69.60

Thad: FIT - \$264.88 Abbie: FIT - \$609.36
SS - \$124.00 SS - \$217.00
Medicare - \$29.00 Medicare - \$50.75

#### Solution Preview

The textbooks are outdated. They are using the old percentages. But, we'll go along with the old percentages for your problem. Social Security is 6.2% ...

#### Solution Summary

Jones Company has the following employees on payroll:

Semimonthly Withholding Marital
Payroll Allowances Status

Heather \$4,500 4 Married
Keith \$4,800 3 Married