Question
1.Ken Jenkins earns $75,000 per year. What is her net pay for the month ended January31, if FICA tax rates are: 6.2% for OASDI and
1.Ken Jenkins earns $75,000 per year. What is her net pay for the month ended January31, if FICA tax rates are: 6.2% for OASDI and 1.45% for Medicare; federal income tax is 20%; and union dues are $400 per month? (Round any intermediate calculations to two decimal places, and your final answer to the nearest whole dollar.)
2.Barbara's cumulative earnings before this pay period were $7,600 and gross pay for the week is $800. Assuming the wage base limit is $7,000, how much of this week's pay is subject to taxes for FUTA and SUTA?
3. Bill James earned $800 for the week. If his cumulative earnings are $40,000 prior to this pay period, how much FICAOASDI must his employer withhold from his earnings? FICA tax rates are OASDI 6.2% on a limit of $128,400. (Round your answer to the nearest whole dollar.)
Please show all steps and how to calculate.
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