Sky Company employed Tom Mills in Year Tom earned $ per month and worked the entire year. Assume the Social Security tax rate is percent for the first $ of earnings, and the Medicare tax rate is percent. Toms federal income tax withholding amount is $ per month. Use percent for the state unemployment tax rate and percent for the federal unemployment tax rate on the first $ of earnings per employee.

Required

Answer the following questions:

What is Toms net pay per month?

What amount does Tom pay monthly in FICA taxes?

What is the total payroll tax expense for Sky Company for January, Year February, Year March, Year December, Year

Assume that instead of $ per month Tom earned $ per month. Based on this new level of income Toms new federal income tax withholding is $ Answer the following questions.

What is Toms net pay per month?

What amount does Tom pay monthly in FICA payroll taxes?

What is the total payroll tax expense for Sky Company for January, Year February, Year March, Year December, Year