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Question
The total earnings of an employee for a payroll period is referred to as
a. take-home pay
b. pay net of taxes
c. net pay
d. gross pay
Use this information for Harris Company to answer the following questions.
Harris Company has the following information for the pay period of January 15–31:
Gross payroll $10,000 Federal income tax withheld $1,800
Social security rate 6.0% Federal unemployment tax rate 0.8%
Medicare rate 1.5% State unemployment tax rate 5.4%
Assume that for the year to date no employees have reached the maximum earnings subject to FICA taxes.
Answer
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