Sky Co. employed Tom Mills in Year 1. Tom earned $5,100 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 1? March Year 1 December Year 1? b. Assume that instead of $5100 per month Tom earned $9.800 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 12 February Year 17 March Year 1 December Yeart? Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required A3 Required BI Required 62 Required B What is Tom's net pay per month (Round your answer to 2 decimal places) Tom's not pay per month Required A2 > y Co, employed Tom Mills in Year 1. Tom earned $5100 per month and worked the entire year. Assume the Social Security tax rat percent for the first $110,000 of earnings, and the Medicare tax rate is 1.5 percent. Tom's federal income tax withholding amount i 370 per month. Use 5.4 percent for the state unemployment tax rate and 6 percent for the federal unemployment tax rate on the 3.000 of earnings per employee. equired ..Answer the following questions. - What is Tom's net pay per month? E. What amount does Tom pay monthly in FICA payroll taxes? 3. What is the total payroll tax expense for Sky Co. for January Year 17 February Year 12 March Year 1 December Year 1? . Assume that instead of $5,100 per month Tom earned $9,800 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 17 February Year 17 March Year 1? December Year 17 Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required A3 Required B1 Required B2 Required B3 What amount does Tom pay monthly in FICA payroll taxes? (Round your answer to 2 decimal places.) Tom's monthly FICA tax 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 17 February Year 12 March Year 1 December Yea b. Assume that instead of $5,100 per month Tom earned $9.800 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 Yeon Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required A3 Required B1 Required 2 Required B3 Assume that instead of $5,100 per month Tom earned $9,800 per month. What is Tom's net pay? (Round your answers to decimal places.) Net Pay January to November (per month) December 0. 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 17 February Year 1? March Year 1 December Year 1? b. Assume that instead of $5,100 per month Tom earned $9,800 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 17 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 $5,100 per month Tom earned $9,800 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 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 17 February Year 1? March Year 1 December Year 1? b. Assume that instead of $5,100 per month Tom earned $9.800 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 17 February Year 12 March Year 12 December Year 12 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 $5,100 per month Tom earned $9,800 per month. What is the total payroll tax expense for Sky Co, for January Year 17 February Year 17 March Year 17 December Year 17 (Round your answers to 2 decimal places.) Total Employer Payroll Tax January February March December Round 2
