Phil phoenix is paid monthly for the month of january of, Ask an Expert

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Phil Phoenix is paid monthly. For the month of January of the current year, he earned a total of $9,288.

The FICA tax for social security is 6.2% and the FICA tax rate for Medicare is 1.45%.

The FUTA tax rate is 0.8%, and the SUTA tax rate is 5.4%.

Both unemployment taxes are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from his earnings was $1,541.17. His net pay for the month is:

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91947160

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