Question

jacob works part time as a cashier at a drugstore. his gross pay for the year was $8000. Based on his income level, the federal tax rate he’ll need to pay is 10%. For his state taxes, Jacob will need to pay 5% and the FICA rate is 7.65%. What is jacobs net pay for the year?

A) 1,812
B) 6,988
C) 6,188
D) 7,200

Answer 1

Answer:

C. 6,188

Step-by-step explanation:

Just took the test. A p e x

Answer 2

The answer will be option B. The net pay for the jacob will be equal to $6,188.

What is gross pay?

The amount paid by any company to the employees without any deductions like taxes or charges is called as the gross pay.

It is given that:-

Gross pay for the year was $8000

The federal tax rate he’ll need to pay is 10%.

Jacob will need to pay 5% and the FICA rate is 7.65%

So the total deductions from the gross pay will be calculated as:-

Deductions = 8000 X 10% +8000 x 5% +8000 x 7.5%

Deductions = 800+400+612=$1812

The net pay will be = 8000-1812 =$ 6188

Hence the net pay for the jacob will be equal to $6,188.

To know more about Gross pay follow

https://brainly.com/question/13793671

#SPJ2