Larry Walsh is general manager of National Salons. During 2024, Walsh worked for the company all year at a $12,200 monthly salary. He also earned a year-end bonus equal to 15% of his annual salary. Walsh's federal income tax withheld during 2024 was $1,220 per month, plus $4,831 on his bonus check. State income tax withheld came to $110 per month, plus $80 on the bonus. FICA tax was withheld on the annual earnings. Walsh authorized the following payroll deductions: Charity Fund contribution of 1% of total earnings and life insurance of $15 per month. National incurred payroll tax expense on Walsh for FICA tax. The company also paid state unemployment tax and federal unemployment tax. i (Click the icon to view payroll tax rate information.) Read the requirements. Requirement 1. Compute Walsh's gross pay, payroll deductions, and net pay for the full year 2024. Round all amounts to the nearest dollar. Begin by computing Walsh's gross pay for the year. (Round all amounts to the nearest dollar.) Gross pay: More info Gross Pay For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: Employer: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Print Done