Question

​Tony's gross pay for the month is $ 3 comma 100. ​Tony's deduction for federal income...

​Tony's gross pay for the month is $ 3 comma 100. ​Tony's deduction for federal income tax is based on a rate of 20​%. Tony has no voluntary deductions.​ Tony's yearminustominusdate pay is under the limit for OASDI. What is the amount of FICA tax withheld from​ Tony's pay?​ (Assume a FICAlong dashOASDI Tax of 6.2​% and FICAlong dashMedicare Tax of 1.45​%. Do not round any intermediate​ calculations, and round your final answer to the nearest​ cent.)

0 0
Add a comment Improve this question Transcribed image text
Answer #1
FICA-OASDI Tax 192.20 =3100*6.2%
FICA-Medicare Tax 44.95 =3100*1.45%
FICA tax withheld from​ Tony's pay 237.15
Add a comment
Know the answer?
Add Answer to:
​Tony's gross pay for the month is $ 3 comma 100. ​Tony's deduction for federal income...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Eric's gross pay for the week is $2,150. His deduction for federal income tax is based...

    Eric's gross pay for the week is $2,150. His deduction for federal income tax is based on a rate of 25%. He has no voluntary deductions. His yearly pay is under the limit for OASDI. What is the amount of FICA tax that will be withheld from Eric's pay? (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%. Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) $537.50 $701.98 $136.50 $164.48

  • Amy's gross pay for the week is $890. Her deduction for federal income tax is based...

    Amy's gross pay for the week is $890. Her deduction for federal income tax is based is under the limit for OASDI. What is her net pay? (Assume a F cent) on a rate of 22%. She has voluntary deductions of S190 Her year-to-date pay ICA-OASDI Tax of 62% and FICA-Medicar e Tax of 1.45%. Round all calculations to the nearest O A. $436.11 OB. $626.11 O C. $504.20 OD· 5694.20

  • Tim's gross pay for this month is $ 9 comma 150$9,150. His gross year minus−to minus−date...

    Tim's gross pay for this month is $ 9 comma 150$9,150. His gross year minus−to minus−date ​pay, prior to this​ month, totaled $ 110 comma 500$110,500. What is the amount of FICA tax withheld from​ Tim's pay for this​ month? (Assume an OASDI rate of 6.26.2​%, applicable on the first​ $118,500 earnings, and a Medicare rate of 1.451.45​%, applicable on all earnings. Do not round any intermediate​ calculations, and round your final answer to the nearest​ cent.) A. $ 496.00...

  • Taurus's gross pay for the week is $980. His yearly pay is under the limit for...

    Taurus's gross pay for the week is $980. His yearly pay is under the limit for OASDI. Assume that the rate for state and federal unemployment compensation taxes is 6.2%, and that Taurus's pay year-to-date has not yet exceeded the $7,000 cap. His yearly pay is under the limit for OASDI. How much is the total amount of payroll taxes that his employer must record as payroll tax expenses? (Do not round your intermediate calculations. Assume a FICA-OASDI Tax of...

  • Berkley's gross pay for this month is $8,750. His gross pay year-to-date, prior to this month...

    Berkley's gross pay for this month is $8,750. His gross pay year-to-date, prior to this month totaled $112,000. Berkley's rate for federal income tax is 20%. His voluntary deductions total $950. What is Berkley's net pay? (Assume an OASDI rate of 6.2%, applicable on the first $117,000 earnings, and a Medicare rate of 1.45%, applicable on all earnings.) $6,553.92 $6050.00 $7,000.00 $5,613.12

  • Logan White is general manager of Valuepoint Salons. During 2018, White worked Valuepoint incurred payroll tax...

    Logan White is general manager of Valuepoint Salons. During 2018, White worked Valuepoint incurred payroll tax expense on White for FICA tax. The company also for the company all year at a $13,600 monthly salary. He also earned a year-end paid state unemployment tax and federal unemployment tax. bonus equal to 15% of his annual salary. White's federal income tax withheld (Click the icon to view payroll tax rate information.) during 2018 was $1,360 per month, plus $4,876 on his...

  • Requirements 1. Compute Stanton's gross pay and net pay for the week. Assume earnings to date...

    Requirements 1. Compute Stanton's gross pay and net pay for the week. Assume earnings to date are $14,000 2. Journalize Frosty World's wages expense accrual for Stanton's work. An explanation is not required 3. Journalize the subsequent payment of wages to Stanton. Print Done More Info For all payroll calculations, use the following tax rates and round amounts to the nearest cent: OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employee: OASDI:...

  • Louis Welch is general manager of Stoneybrook Salons. During 2024, Welch worked for the company all...

    Louis Welch is general manager of Stoneybrook Salons. During 2024, Welch worked for the company all year at a $12,200 monthly salary. He also earned a year-end bonus equal to 15% of his annual salary Welch's federal income tax withheld during 2024 was $3,904 per month, plus $7.027 on his bonus check. State income tax withheld came to $80 per month, plus 560 on the bonus FICA tax was withheld on the annual earnings. Welch authorized the following payroll deductions...

  • 5) A coal mine cost $1,003,000 and is estimated to hold 54,000 tons of coal. There...

    5) A coal mine cost $1,003,000 and is estimated to hold 54,000 tons of coal. There is no residual value. During the first year of operations, 11,000 tons are extracted and sold. Calculate depletion expense for the first year. (Round any intermediate calculations to the nearest cent.) A) $100,300 B) $150,450 C) $200,600 D) $204,270 14) 14) Angie's gross pay for the week is $970.00. Her deduction for federal income tax is based on a rate of 20%. She has...

  • 3) Bob's Auction House's payroll for April includes the following data: Gross earnings $3,800 Salaries subject...

    3) Bob's Auction House's payroll for April includes the following data: Gross earnings $3,800 Salaries subject to FICA: 6.2% OASDI 2,060 1.45% Medicare 3,800 Salaries subject to unemployment: 0.8% FUTA 2,000 2.0% SUTA 2,000 Other deductions include: Federal income tax 400 State income tax 300 What is the employer's portion of the taxes? (Round intermediary calculations to the nearest cent and final answers to the whole dollar.) A) $183 B) $184 C) $239 D) $700

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT