Sky Company employed Tom Mills in Year 1 Tom eamed $5,200 per month and worked the entire year Assume the Social Security tax rate is 6 percent for the first $130,000 of earnings, and the Medicare tax rate is 1 5 percent Torris federal income tax withholding amount is $880 per month Use 5 4 percent for the state unemployment tax rate and 0 6 percent for the federal unemployment tax rate on the first $7,000 of eamings per employee Required 6 Answer the following questions 1 What is Tom's net pay per month 2 What amount does Tom pay monthly in FiCA taxes 3 What is the total payroll tax expense for Sky Company for January, Year 1 February, Year 1 March, Year 1 December, Year 1 b Assume that instead of $5,200 per month Tom earned $11,200 per month Based on this new level of income Tom's new federal income tox withholding is $2 000 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 Company for January, Year 1 February, Year 1 March, Year 1 December, Year 1 What is Tom's net pay per month Note Round your answer to 2 decimal places What amount does Tom pay monthly in FICA taxes Note Round your answer to 2 decimal places What is the total payroll tax expense for Sky Company for January, Year 1 February, Year 1 March, Year 1 December, Year 1 Note Round your answers to 2 decimal places Assume that instead of $5,200 per month Tom earned $11,200 per month Based on this new level of income Tom's new federal income tax withhoiding is $2,000 What is Tom's net pay Note Round your answers to 2 decimal places Assume that instead of $5,200 per month Tom eamed $11,200 per month Based on this new level of income Tom's new federal income tax withholding is $2,000 What amount does Tom pay monthly in FICA payroll taxes Note Round your answers to 2 decimal places Assume that instead of $5,200 per month Tom earned $11,200 per month Based on this new level of income Tom's new federal income fax withholding is $2,000 What is the total payroll tax expense for Sky Company for January, Year 1 February, Year 1 March, Year 1 December, Year 1 Note Round your answers to 2 decimal places

Question

Sky Company employed Tom Mills in Year 1   Tom eamed  $5,200 per month and worked the entire year  Assume the Social Security tax rate is 6 percent for the first $130,000 of earnings, and the Medicare tax rate is 1 5 percent Torris federal income tax withholding amount is $880 per month  Use 5 4 percent for the state unemployment tax rate and 0 6 percent for the federal unemployment tax rate on the first $7,000 of eamings per employee  Required 6  Answer the following questions  1  What is Tom's net pay per month  2  What amount does Tom pay monthly in FiCA taxes  3  What is the total payroll tax expense for Sky Company for January, Year 1  February, Year 1  March, Year 1  December, Year 1   b  Assume that instead of $5,200 per month Tom earned $11,200 per month  Based on this new level of income Tom's new federal income tox withholding is $2 000  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 Company for January, Year 1  February, Year 1   March, Year 1  December, Year 1   What is Tom's net pay per month  Note  Round your answer to 2 decimal places  What amount does Tom pay monthly in FICA taxes  Note  Round your answer to 2 decimal places  What is the total payroll tax expense for Sky Company for January, Year 1   February, Year 1   March, Year 1   December, Year 1   Note  Round your answers to 2 decimal places  Assume that instead of $5,200 per month Tom earned $11,200 per month  Based on this new level of income Tom's new federal income tax withhoiding is $2,000  What is Tom's net pay  Note  Round your answers to 2 decimal places  Assume that instead of $5,200 per month Tom eamed $11,200 per month  Based on this new level of income Tom's new federal income tax withholding is $2,000  What amount does Tom pay monthly in FICA payroll taxes  Note  Round your answers to 2 decimal places  Assume that instead of $5,200 per month Tom earned $11,200 per month  Based on this new level of income Tom's new federal income fax withholding is $2,000  What is the total payroll tax expense for Sky Company for January, Year 1   February, Year 1   March, Year 1  December, Year 1  Note  Round your answers to 2 decimal places

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Sky Company employed Tom Mills in Year 1 . Tom eamed $5,200 per month and worked the entire year. Assume the Social Security tax rate

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