Compute the Net Pay for Each Employee

Essay

Compute the net pay for each employee.The FICA tax rate is: OASDI 6.2% on a limit of $117,000;Medicare is 1.45%;federal income tax is 15%;state income tax is 5%;and medical insurance is $100 per employee.
$\begin{array}{lll}&\text { Cumulative Pay }&\text { This Week's Pay }\\\text { Sarah Ahti } & \$ 75,000 & \$ 3,500 \\\text { Matt DeFore } & \$ 62,000 & \$ 2,500\end{array}$