Question

Calculate Net Pay. Enter your gross pay, taxes, and deductions below. Press calculate when you're ready.

Gross Pay: $1,837.00
Earnings: $1,837.00
Taxes: Federal (8.24%) = $151.37
FICA Medicare (1.45%) = $26.64
FICA Social Security (6.202) = $118.89
Deductions: State OK (13.86%) = $70.91
Net Pay:
A) $1,537.54
B) $1,662.45
C) $1,487.92
D) $1,708.73

Answer 1

To determine the Net Pay, total deductions of $367.81 are subtracted from the Gross Pay of $1,837.00, yielding a result of $1,469.19. The provided answer choices do not match the calculated Net Pay, indicating a potential error in provided data or choices.

Step-by-step explanation:

To calculate Net Pay, we need to subtract the taxes and deductions from the Gross Pay. Given the gross pay of $1,837.00 and specific deductions, let's calculate the net pay:

• Federal Tax: $151.37
• FICA Medicare: $26.64
• FICA Social Security: $118.89
• State (OK): $70.91

Now we add up all the deductions: $151.37 + $26.64 + $118.89 + $70.91 = $367.81.

Subtract the total deductions from the Gross Pay to find the Net Pay: $1,837.00 - $367.81 = $1,469.19.

However, none of the provided answers match this calculation. There may be a mistake in the given tax percentages or the provided answer choices since 13.86% for the State OK tax seems incorrect based on normal state tax rates. The standard deduction for State Tax is not provided, hence, the above calculation assumes the State Tax rate is indeed 13.86% as stated.