A company's payroll records report $2,960 of gross pay and $384 of federal income tax withholding...

Transcribed Image Text:

A company's payroll records report $2,960 of gross pay and $384 of federal income tax withholding for an employee for the weekly pay period. Compute this employee's FICA Social Security tax (6.2%), FICA Medicare tax (1.45%), state income tax (1.0%), and net pay for the current pay period. Note: Round your final answers to 2 decimal places. Gross pay FICA Social Security tax deduction FICA Medicare tax deduction Federal income tax deduction State income tax deduction Total deductions Net pay 0.00 0.00 A company's payroll records report $2,960 of gross pay and $384 of federal income tax withholding for an employee for the weekly pay period. Compute this employee's FICA Social Security tax (6.2%), FICA Medicare tax (1.45%), state income tax (1.0%), and net pay for the current pay period. Note: Round your final answers to 2 decimal places. Gross pay FICA Social Security tax deduction FICA Medicare tax deduction Federal income tax deduction State income tax deduction Total deductions Net pay 0.00 0.00

Answer rating: 100% (QA)

To compute the FICA Social Security tax FICA Medicare tax state income tax and net pay we need to fo... View the full answer