Asked by Courtney Mendez on May 22, 2024
Verified
A weekly payroll register shows that Carla Mitchell had total wages of $402. She had deductions of $30.75 for FICA tax, $46.40 for federal income tax, and $18 for medical insurance. Compute Mitchell's net pay.
Net Pay
The amount of money remaining from an employee's gross pay after deductions like taxes, insurance premiums, and retirement contributions have been subtracted.
FICA Tax
A U.S. federal payroll (or employment) tax imposed on both employees and employers to fund Social Security and Medicare—federal programs that provide benefits for retirees, disabled people, and children of deceased workers.
Federal Income Tax
A tax levied by the government on the annual income of individuals, corporations, trusts, and other legal entities.
- Evaluate the net wages by subtracting government and optional deductions from the gross wages.
Verified Answer
Learning Objectives
- Evaluate the net wages by subtracting government and optional deductions from the gross wages.
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