Juanita receives her paycheck and knows that her gross pay and federal tax are correct. Using the fact that Social Security tax is 6.2% of gross pay, Medicare tax is 1.45% of gross pay and state tax is 19% of federal tax, determine if Juanita's net pay is correct. Earnings Deductions Week Ended Regular FED. SOC. MED STATE WITH. WITH. CARE. WITH. NET PAY 11/17 $1,020.00 $107.00 $63.24 $14.79 $20.33 $814.64 Choose the true statement below. a. The net pay is correct. b. The Social Security tax is not correct. c. The Medicare tax is not correct. d. The state tax is not correct.
Question
Answer:
gross pay is 1020.00fed tax is 107.00
social security is 6.2% of gross pay......6.2% of 1020.00 =
0.062(1020) = 63.24
medicare is 1.45% of gross pay....1.45% of 1020.00 =
0.0145(1020) = 14.79
state tax is 19% of fed tax....19% of 107.00 =
0.19(107) = 20.33
therefore, her net pay is : 1020 - (107 + 63.24 + 14.79 + 20.33) =
1020 - 205.36 = 814.64
answer : the net pay is correct <==
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general
10 months ago
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