Phil Phoenix Is Paid Monthly

Multiple Choice

Phil Phoenix is paid monthly. For the month of January of the current year, he earned a total of $8,288. The FICA tax for social security is 6.2% and the FICA tax rate for Medicare is 1.45%. The FUTA tax rate is 0.8%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from his earnings was $1,375.17. His net pay for the month is:

A) $5,190.83
B) $5,844.79
C) $6,278.79
D) $6,566.00
E) $6,792.64