raquel has gross pay of $732 and federal tax withholdings of $62. determine raquels net pay if she has the…

raquel has gross pay of $732 and federal tax withholdings of $62. determine raquels net pay if she has the additional items withheld: social security tax that is 6.2% of her gross pay medicare tax that is 1.45% of her gross pay state tax that is 21% of her federal tax a. $600.99 b. $610.54 c. $641.83 d. $662.99 please select the best answer from the choices provided

raquel has gross pay of $732 and federal tax withholdings of $62. determine raquels net pay if she has the additional items withheld: social security tax that is 6.2% of her gross pay medicare tax that is 1.45% of her gross pay state tax that is 21% of her federal tax a. $600.99 b. $610.54 c. $641.83 d. $662.99 please select the best answer from the choices provided

Answer

Explanation:

Step1: Calculate Social Security tax

$732\times6.2%=732\times0.062 = 45.384$

Step2: Calculate Medicare tax

$732\times1.45%=732\times0.0145 = 10.614$

Step3: Calculate state tax

$62\times21%=62\times0.21 = 13.02$

Step4: Calculate total withholdings

$62 + 45.384+10.614 + 13.02=131.018$

Step5: Calculate net - pay

$732-131.018 = 600.982\approx600.99$

Answer:

A. $600.99$