Question: please help solve required B1-B3, required A1-A3 has already been solved and is correct Sky Company employed Tom Mills in Year 1. Tom earned (





Sky Company employed Tom Mills in Year 1. Tom earned \\( \\$ 6,000 \\) 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. Tom's federal income tax withholding amount is \\( \\$ 940 \\) per month. Use 5.4 percent for the state unemployment tax fate and 0.6 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 manth? 2. What amount does Tom pay monthly in FiCA taxes? 3. What is the total payroil tax expense for Sky Company for January, Yeaf 1? February, Year 1? March, Year 1? December, Year 1 ? b. Assume that instead of \\( \\$ 6,000 \\) per month Tom earnod \\( \\$ 11,400 \\) per month. Based on this new level of income Tom's new federal income tax 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 poyroll tax expense for Sky Company for January, Year 17 February, Year 17 Morch, Year 17 Decembee, Year 1? Complete this question by entering your answers in the tabs below. What is the total payroll tax expense for Sky Company for January, Year 17 Februany, Year 1? March, Year 1? Oecember, Year Sky Company employed Tom Mills in Year 1, Tom earned \\( \\$ 6,000 \\) 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. Tom's federal income tax withholding amount is \\( \\$ 940 \\) per month. Use 5.4 percent for the state unemployment tax tate and 0.6 percent for the fecteral unemployment tax rote on the first \\( \\$ 7,000 \\) of earnings per employee. Required a. Answer the following questions: 1. Whot is Tom's net pay per month? 2. What amount does Torn pay monthly in FiCA taxes? 3. What is the fotol payroll tax expense for Sky Company for January, Year 1? February, Year \\( 1 ? \\) March, Year 1 ? December, Year 1 ? b. Assume that instead of \\( \\$ 6.000 \\) per month Tom earned \\( \\$ 11,400 \\) per month, Based on this new level of income Tom's new federal income tax withiclding is \\( \\$ 2,000 \\). Answer the following questions. 1. What is Tom's net pay per month? 2. Whot amount does Tom pay monthly in FCCA payoll taxes? 3. What is the total payroll tax expense for Sky Company for January, Yoar 17 Februany, Year 17 Merch, Year 17 December, Year 17 Complete this question by entering your answers in the tabs below. Assume that instead of \\( \\$ 6,000 \\) per month Tom earned \\( \\$ 11,400 \\) per month. Based on this new level of income Tom s new federal income tax withnolding is \\( \\$ 2,000 \\). What is Tom's net poy? Wote) Hound your ansmers to 2 decimal places. Siky Company employed Tom Mills in Year 1. Tom earned \\( \\$ 6,000 \\) per month ond 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. Tom's federal income tax withiolding amount is \\( \\$ 940 \\) per month. Use 5.4 percent for the state unemployment tax rote and 0.6 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 toxes? 3. What is the total payroll tax expense for Sky Company for January, Year 1? February, Year 1? March, Year 17 December, Year 1? b. Assume that instead of \\( \\$ 6.000 \\) per month Tom earned \\( \\$ 11,400 \\) per month. Based on this new level of income Tom's new foderal income tax 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? Fobruary, Year 17 Morch, Year 1? December, Year 1 ? Complete this question by entering your answers in the tabs below. What amount does Tom pay monthiy in Fica taxes? Note: Round your answer to 2 decimal places. 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, Yoar 1? March, Year 1? December, Year 1? b. Assume that instead of \\( \\$ 6,000 \\) per month Torn earned \\( \\$ 11,400 \\) per month. Based on this new level of income Tom's new federal income tax 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 17 March, Year \\( 1 ? \\) December, Year 17 ? Complete this question by entering your answers in the tabs below. Aswume that instead of 16,000 per month Tom earned \\( \\$ 11,400 \\) per month, Based on this new level of income Tom's new federal income tax withnoiding is \\( \\$ 2,000 \\). What is the total payroli tax expense for Sky Company for January, Year i? February, Year I? March, Year 17 December, Year 1? Note: Round your answers to 2 decimal places Sky Company employed Tom Mills in Year 1. Tom earned \\( \\$ 6,000 \\) 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. Tom's federal income tax withholding amount is \\( \\$ 940 \\) 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 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 taxes? 3. What is the total payroli tax expense for Sky Company for January, Year 1? February, Year 1? March, Year 1? December, Year 1? b. Assume that instead of \\( \\$ 6,000 \\) per month Tom earned \\( \\$ 11,400 \\) per month. Based on this new level of income Tom's new federal income tax 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? Complete this question by entering your answers in the tabs below. Assume that instead of \\( \\$ 6,000 \\) per month Tom earned \\( \\$ 11,400 \\) per month. Based on this new level of income Fom's new federal income tax withholding is \\( \\$ 2,000 \\). What amount does Torn pay monthiy in fica payroli taxes? Note: Round your answers to 2 decimal places. Sky Company employed Tom Mills in Year 1. Tom earned \\( \\$ 6,000 \\) 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. Tom's federal income tax withholding amount is \\( \\$ 940 \\) 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 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 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 \\( \\$ 6,000 \\) per month Tom earned \\( \\$ 11,400 \\) per month. Based on this new level of income Tom's new federal income tax withholding is \\( \\$ 2,000 \\). Answer the following questions. 1. What is Torr's net pay per month? 2. What amount does Tom poy monthly in FiCA payroll taxes? 3. What is the total payroll tax expense for Sky Compony for January, Year 1? February, Year 1? March, Year 1? December, Year 1? Complete this question by entering vour answers in the tabs below. What is Tom's net pay per month? Notes Round your answer to 2 decimal places
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