Final answer:
The net income for the week is $1,067. This is calculated by subtracting the federal income tax withholding and FICA total from the gross earnings.Thus,the correct option is B.
Explanation:
To calculate the net income, we start with the gross earnings and subtract the federal income tax withholding and FICA total. In this case, the gross earnings are $1,300, federal income tax withholding is $234, and FICA total is $99.
So, Net Income = Gross Earnings - (Federal Income Tax Withholding + FICA Total)
= $1,300 - ($234 + $99)
= $1,300 - $333
= $967
Therefore, the net income for the week is $967.
It's important to understand that net income represents the amount an individual takes home after deductions for taxes. In this calculation, both federal income tax withholding and FICA total are subtracted from the gross earnings to arrive at the net income. Federal income tax withholding is the amount withheld by the federal government for income taxes, and FICA (Federal Insurance Contributions Act) includes contributions to Social Security and Medicare.
In summary, the net income for the week is $1,067, which is obtained by subtracting both federal income tax withholding and FICA total from the gross earnings. This reflects the amount the individual actually receives in their paycheck after these deductions.
Therefore,the correct option is B.