Determine deductions for social security and medicare


Response to the following problem:

Pat Maninen earns a gross salary of $2,100 each week. What are Pat's first week's deductions for Social Security and Medicare? Will any of Pat's wages be exempt from Social Security and Medicare for the calendar year? Assume a rate of 6.2% on $106,800 for Social Security and 1.45% for Medicare.

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Managerial Accounting: Determine deductions for social security and medicare
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