Let's analyze and solve the question step-by-step based on the table of salary and taxes:
1. List Initial Values:
- Salary: 1106.45
- Federal Income Tax: 122.67
- Social Security Tax: 68.60
- Medicare Tax: 16.04
- State Income Tax: 10.33
- Net Pay: 888.81
2. Calculate the Total Taxes Withheld:
We need to sum up all the taxes that were withheld:
- Federal Income Tax: 122.67
- Social Security Tax: 68.60
- Medicare Tax: 16.04
- State Income Tax: 10.33
[tex]\[
\text{Total Taxes} = 122.67 + 68.60 + 16.04 + 10.33 = 217.64
\][/tex]
3. Calculate the Expected Net Pay:
To find the expected net pay, we subtract the total amount of taxes from the total salary:
[tex]\[
\text{Expected Net Pay} = \text{Salary} - \text{Total Taxes}
\][/tex]
Substituting the values:
[tex]\[
\text{Expected Net Pay} = 1106.45 - 217.64 = 888.81
\][/tex]
So, after these calculations, we can confirm that:
- The Salary is 1106.45.
- The Federal Income Tax withheld is 122.67.
- The Social Security Tax withheld is 68.60.
- The Medicare Tax withheld is 16.04.
- The State Income Tax withheld is 10.33.
- The Net Pay is 888.81.
Thus, the total amount of taxes withheld is 217.64, and the expected net pay, after subtracting these taxes from the salary, is 888.81. The values match perfectly with what was expected.
The Net Pay listed as 888.81 indicates the amount leftover for the employee after all the deductions have been made. The total taxes listed, 217.64, are the cumulative sum of all taxes withheld from the salary.
This concludes that the final net pay, taxes, and the mentioned values are correct and accurate as per the given details.
