Asked by Collin Rippy on May 25, 2024
Verified
A weekly payroll register shows that David Wu had total wages of $397.37. He had deductions of $30.40 for FICA tax, $41.25 for federal income tax, and $17.20 for medical insurance. Compute Wu's net pay.
Net Pay
The amount of an employee's earnings after all deductions, including taxes and retirement contributions, have been subtracted.
FICA Tax
A United States federal payroll tax that funds Social Security and Medicare, deducted from employees’ paychecks and matched by employers.
Federal Income Tax
A tax levied by the United States Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts, and other legal entities.
- Compute the take-home pay by deducting fiscal charges and supplementary deductions from total compensation.
Verified Answer
Learning Objectives
- Compute the take-home pay by deducting fiscal charges and supplementary deductions from total compensation.
Related questions
A Monthly Payroll Register Shows That Sean Dougan Had Total ...
A Monthly Payroll Register Shows That Andrew Li Had Total ...
A Weekly Payroll Register Shows That Virginia Peters Had Total ...
A Weekly Payroll Register Shows That Will Morris Had Total ...
A Weekly Payroll Register Shows That Carla Mitchell Had Total ...