Tony's gross pay for the month is $2700.Tony's deduction for federal income tax is based on a rate of 21%.Tom has no voluntary deductions.Tony's year-to-date pay is under the limit for OASDI.What is the amount of FICA tax withheld from Tony's pay? (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.Do not round any intermediate calculations,and round your final answer to the nearest cent.)
A) $773.55
B) $206.55
C) $567.00
D) $387.45

Question

Quizplus · Accepted Answer

FICA withheld = FICA-OASDI Tax of 6.2% + FICA-Medicare Tax
FICA withheld = ($2700 × 0.062) + ($2700 × 0.0145) = $206.55

Tony's Gross Pay for the Month Is $2700