.
Michael’s employer just switched to a new payroll system. He wants to make sure that his net pay has been computed correctly. His gross pay per pay period is $587.34. He has the following deductions: Social Security tax (6.2%), Medicare tax (1.45%), federal withholding tax $164.45, state withholding tax $76.34, retirement insurance contribution $50.00, disability insurance fee $8.00, medical insurance fee $23.00, and dental insurance fee $8.00. What should his net pay be for this pay period? Net pay = gross pay – deductions.

Respuesta :

Answer:

Step-by-step explanation:

$587.34 x 6.2% = $36.42

$587.34 x 1.45% = $8.52

$36.42 + $8.53 + $164.45 + $76.34 + $50 + $8 + $23 + $8 = $374.73

$587.34 - $374.73 = $212.61