For all your questions, big or small, IDNLearn.com has the answers you need. Discover in-depth and reliable answers to all your questions from our knowledgeable community members who are always ready to assist.
Sagot :
Let's verify the values step by step:
1. Calculating Social Security Tax (6.2%):
Gross Pay: [tex]\( \$1020.00 \)[/tex]
Social Security Tax:
[tex]\[ 0.062 \times 1020.00 = 63.24 \][/tex]
The reported value for Social Security tax is [tex]\( \$63.24 \)[/tex], which matches our calculation.
2. Calculating Medicare Tax (1.45%):
Gross Pay: [tex]\( \$1020.00 \)[/tex]
Medicare Tax:
[tex]\[ 0.0145 \times 1020.00 = 14.79 \][/tex]
The reported value for Medicare tax is [tex]\( \$14.79 \)[/tex], which matches our calculation.
3. Calculating State Tax (19% of Federal Tax):
Federal Tax: [tex]\( \$107.00 \)[/tex]
State Tax:
[tex]\[ 0.19 \times 107.00 = 20.33 \][/tex]
The reported value for State tax is [tex]\( \$20.33 \)[/tex], which matches our calculation.
4. Calculating Total Deductions:
[tex]\[ 107.00 + 63.24 + 14.79 + 20.33 = 205.36 \][/tex]
5. Calculating Net Pay:
[tex]\[ 1020.00 - 205.36 = 814.64 \][/tex]
The reported net pay is [tex]\( \$814.64 \)[/tex], which matches our calculation.
Given that all our calculated deductions match the reported values and the net pay is correct, the true statement is:
a. The net pay is correct.
1. Calculating Social Security Tax (6.2%):
Gross Pay: [tex]\( \$1020.00 \)[/tex]
Social Security Tax:
[tex]\[ 0.062 \times 1020.00 = 63.24 \][/tex]
The reported value for Social Security tax is [tex]\( \$63.24 \)[/tex], which matches our calculation.
2. Calculating Medicare Tax (1.45%):
Gross Pay: [tex]\( \$1020.00 \)[/tex]
Medicare Tax:
[tex]\[ 0.0145 \times 1020.00 = 14.79 \][/tex]
The reported value for Medicare tax is [tex]\( \$14.79 \)[/tex], which matches our calculation.
3. Calculating State Tax (19% of Federal Tax):
Federal Tax: [tex]\( \$107.00 \)[/tex]
State Tax:
[tex]\[ 0.19 \times 107.00 = 20.33 \][/tex]
The reported value for State tax is [tex]\( \$20.33 \)[/tex], which matches our calculation.
4. Calculating Total Deductions:
[tex]\[ 107.00 + 63.24 + 14.79 + 20.33 = 205.36 \][/tex]
5. Calculating Net Pay:
[tex]\[ 1020.00 - 205.36 = 814.64 \][/tex]
The reported net pay is [tex]\( \$814.64 \)[/tex], which matches our calculation.
Given that all our calculated deductions match the reported values and the net pay is correct, the true statement is:
a. The net pay is correct.
We appreciate every question and answer you provide. Keep engaging and finding the best solutions. This community is the perfect place to learn and grow together. IDNLearn.com is committed to your satisfaction. Thank you for visiting, and see you next time for more helpful answers.