Question
Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of 9,138. The
Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of 9,138. The FICA tax for social security is 6.2% of the first $132,900 of employee earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1,516.27. Her net pay for the month is: (Round your intermediate calculations to two decimal places.)
Multiple Choice
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$6,922.67
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$7,813.84
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$6,866.67
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$7,055.17
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$6,488.67
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