Question Help Liam Wallace is general manager of Stoneybrook Salons. During 2024, Wallace worked for the company all year at a $10,600 monthly salary. He also earned a year-end bonus equal to 5% of his annual salary. Wallace's federal income tax withheld during 2024 was $2,332 per month, plus $2,035 on his bonus check. State Stoneybrook incurred payroll tax expense on Wallace for FICA tax. The company also paid state unemployment tax and federal unemployment tax. income tax withheld came to $60 per month, plus $30 on the bonus. FICA tax was withheld on the annual earnings. Wallace authorized the following payroll i (Click the icon to view payroll tax rate information.) . deductions: Charity Fund contribution of 4% of total earnings and life insurance of $25 per month. Read the requirements. Requirement 1. Compute Wallace's gross pay, payroll deductions, and net pay for the full year 2024. Round all amounts to the nearest dollar. Begin by computing Wallace's gross pay for the year. (Round all amounts to the nearest dollar.) Gross pay: Gross Pay Now compute Wallace's payroll deductions and net pay for the year. (Round all amounts to the nearest dollar.) Net pay: i More Info X Withholding deductions: For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000 Employer: 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 Net (take-home) pay Requirement 2. Compute Stoneybrook's total 2024 payroll tax expense for Wallace. (Round all amounts to the nearest dollar.) Employer Payroll Taxes: Total Employer Payroll Tax Total Payroll Expense ? Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air