2 Exercise 9-11A (Algo) Calculating employee and employer payroll taxes LO 9-5 ped Look 9 int Sky Company employed Tom Mills in Year 1. Tom earned $5,700 per month and worked the entire year. Assume the Social Security tax rate is 6 percent for the first $130,000 of earnings, and the Medicare tax rate is 1.5 percent. Tom's federal income tax withholding amount is $870 per month. Use 5.4 percent for the state unemployment tax rate and 0.6 percent for the federal unemployment tax rate on the first $7,000 of earnings per employee. Required a. Answer the following questions: 1. What is Tom's net pay per month? 2. What amount does Tom pay monthly in FICA taxes? 3. What is the total payroll tax expense for Sky Company for January, Year 1? February, Year 17 March, Year 17 December, Year 17 b. Assume that instead of $5,700 per month Tom earned $11,500 per month. Based on this new level of income Tom's new federal income tax withholding is $2,000. Answer the following questions. 1. What is Tom's net pay per month? sk 2. What amount does Tom pay monthly in FICA payroll taxes? 3. What is the total payroll tax expense for Sky Company for January, Year 17 February, Year 12 March, Year 17 December, Year 17 Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required A3 Required 51 Required 82 Required B3 Assume that instead of $5,700 per month Tom earned $11,500 per month. Based on this new level of income Tom's new federal income tax withholding is $2,000. What is the total payroll tax expense for Sky Company for January, Year 1? February, Year 17 March, Year 17 December, Year 1? Submit Check my work