Sky Co. employed Tom Mills in Year 1. Tom earned $5,000 per month and worked the entire year. Assume the Social Security tax rate is 6 percent for the first $110,000 of earnings, and the Medicare tax rate is 1.5 percent. Toms federal income tax withholding amount is $910 per month. Use 5.4 percent for the state unemployment tax rate and .6 percent for the federal unemployment tax rate on the first $7,000 of earnings per employee.

b. Assume that instead of $5,000 per month Tom earned $9,700 per month. Answer the following questions. 1. What is Toms net pay per month? 2. What amount does Tom pay monthly in FICA payroll taxes? 3. What is the total payroll tax expense for Sky Co. for January Year 1? February Year 1? March Year 1? December Year 1?

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Assume that instead of $5,000 per month Tom earned $9,700 per month. What is Tom's net pay? (Round your answers to 2 decimal places.) Net Pay January to November (per month) December Assume that instead of $5,000 per month Tom earned $9,700 per month. What amount does Tom pay monthly in FICA payroll taxes? (Round your answers to 2 decimal places.) FICA Payroll Tax January to November (per month) December Assume that instead of $5,000 per month Tom earned $9,700 per month. What is the total payroll tax expense for Sky Co. for January Year 1? February Year 1? March Year 1? December Year 1? (Round your answers to 2 decimal places.) Total Employer Payroll Tax January February March December