Question

Susan works for a salary of $3,600 per month. She has federal income tax withheld at the rate of 15%, Social Security tax at the rate of 6.2%, Medicare tax at the rate of 1.45%, and health insurance premiums of $48 per month. Susan also contributes to a savings plan. Each month, 2% of her gross pay is placed in the plan.

Answer 1

$2,664.68

Step-by-step explanation:

Salary $3,600

Overtime $0

Gross Pay:$3,600

Required Deductions:

Federal Tax(15%*3,600) $540

Social Security Tax(6.2%*3,600) $223.2

Medicare Tax(1.45%*3,600) $52.12

Voluntary Deductions:

Health Insurance 48

Union Dues $0

Retirement $0

Savings:( 2% *3,600)72

Other:

Total Deductions:935.32

Net Pay: (3,600-935.32) $2,664.68

Therefore Susan Net pay will be $2,664.68