Question

chloe receives her paycheck and knows that her gross pay and federal tax are correct. using the fact that social security tax is 6.2% of gross pay, medicare tax is 1.45% of gross pay and state tax is 23% of federal tax, determine if chloes net pay is correct.

	earnings	deductions
9/10	$856.00	$80.00	$53.07	$12.41	$18.40	$692.12

choose the true statement below.
a. the net pay is correct.
b. the social security tax is not correct.
c. the medicare tax is not correct.
d. the state tax is not correct.

Explanation:

Step1: Calcular impuesto de Seguridad Social

El impuesto de Seguridad Social es el 6.2% del sueldo bruto. El sueldo bruto es de $856.00. Entonces, $856\times0.062 = 53.072\approx53.07$.

Step2: Calcular impuesto de Medicare

El impuesto de Medicare es el 1.45% del sueldo bruto. Así, $856\times0.0145 = 12.412\approx12.41$.

Step3: Calcular impuesto estatal

El impuesto estatal es el 23% del impuesto federal. El impuesto federal es de $80.00. Entonces, $80\times0.23 = 18.40$.

Step4: Calcular el sueldo neto

Sumar los descuentos: $80 + 53.07+12.41 + 18.40=163.88$. Restar los descuentos del sueldo bruto: $856 - 163.88 = 692.12$.

Answer:

a. The net pay is correct.