Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. tony's gross pay for the month is $3,200. tony's d

Tony's gross pay for the month is $3,200. Tony's deduction for federal income tax is...

90.2K

Verified Solution

Question

Accounting

image
image
Tony's gross pay for the month is $3,200. Tony's deduction for federal income tax is based on a rate of 20% Tony's pay? (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%. Do not round any in O A. $884.80 OB. $459.20 OC. $244.80 OD. $640.00 tax is based on a rate of 20%. Tony has no voluntary deductions. Tony's year-to-date pay is under the limit for OASDI. What is the amount of FICA tax withheld free of 145%. Do not round any intermediate calculations, and round your final answer to the nearest cent.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students