Mike kohl, an employee of spotswood company, had gross earnings for the month of october of $8,000. fica taxes were 7.65% of gross earnings, federal income taxes amounted to $1,270 for the month, state income taxes were 2% of gross earnings, and mike authorized voluntary deductions of $20 per month to the united fund. what is the net pay for mike kohl?

net pay is $5938

Explanation:

Given data

gross earnings = $8000

FICA taxes = 7.65% of gross earnings

federal  income taxes  = $1,270 monthly

state income taxes = 2% of gross earnings

voluntary deductions = $20 per month

to find out

net pay for Mike Kohl

solution

we know we have gross earning is $8000

and here

FICA taxes = 7.65% of gross earnings = 7.68 % × 8000 = $612

and

state income tax =  2%  gross earnings = 2% × 8000 = $160

so that

net pay will be

net pay = gross earnings - FICA taxes  - state income tax - federal  income taxes - voluntary deductions

put here all value we get

net pay = 8000 - 612  - 160 - 1270 - 20

so net pay is $5938

the answer is d

explanation:

the u.s. census bureau produces data on the population and economy nationwide. it can you to analyze the kind of people living in your neighborhood. it does not show you the market of people willing to buy your product or an existing market for your product. that will require more market research. the census bureau only gives you an insight to the demographics in your area.