Sky Co. employed Tom Mills in Year 1. Tom earned $5,400 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 $920 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 17 February Year 12 March Year 17 December Year 1? b. Assume that instead of $5,400 per month Tom earned $9,500 per month. Answer the following questions, 1. Whnt 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 ? March Year 17 December Year 1? Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required A3 Required B1 Required 62 Required 33 What is Tom's net pay per month? (Round your answer to 2 decimal places) Tom's net pay per month Stequired A2 > Complete this question by entering your answers in the tabs below. Required A2 Required AZ Required A3 Required B1 Required B2 Required 83 What amount does Tom pay monthly in FICA payroll taxes? (Round your answer to 2 decimal places.) Tom's monthy FICA below. VO Required A1 Required A2 Required A3 Required : Required 2 Required 3 What is the total payroll tax expense for Sky Co. for January Year 12 February Year 12 March Year 17 December Year 17 (Round your answers to 2 decimal places) Total Employer Payroll Tax Jay February March December Complete this question by entering your answers in the tabs below. onces Required A1 Required A2 Required A3 Required B1 Required B2 Required 83 Assume that instead of $5,400 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 Print Complete this question by entering your answers in the tabs below. eferences Required A1 Required AZ Required A3 Required B1 Required 32 Required B3 Assume that instead of $5,400 per month Tom earned $9,500 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 Required A1 Required A2 Required A3 Required 31 Required B2 Required 33 Assume that instead of $5,400 per month Tom earned 59,500 per month. What is the total payroll tax expense for Sky Co, for January Year 17 February Year 12 March Year 17 December Year 17 (Round your answers to 2 decimal places.) Total Employer Payroll Tax January February March December
