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Sky Co. employed Tom Mills in Year 1. Tom earned $5,900 per month and worked the entire year. Assume the Social Security tax rate is

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Sky Co. employed Tom Mills in Year 1. Tom earned $5,900 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. Tom's federal income tax withholding amount is $870 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. Required a. Answer the following questions. 1. What is Tom's 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 12 March Year 1? December Year 1? b. Assume that instead of $5,900 per month Tom earned $9,500 per month. Answer the following questions. 1. What is Tom's 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 12 March Year 1? December Year 1? Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required A3 Required B1 Required B2 Required B3 Assume that instead of $5,900 per month Tom earned $9,500 per month. What is Tom's net pay? (Round your answers to 2 decimal places.) Net Pay January to November (per month) December

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