Berkley's gross pay for the month is $14,40000. His deduction for federal income tax is based on a rate of 18%. He has no voluntary deductions. His yearly pay is under the limit for OASDI. What is Berkley's net pay? (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.)
A) $10,706.40
B) $14,400.00
C) $13,298.40
D) $11,808.00
A .Gross Pay $14,400.00
Less: OASDI 892.80
Less: Medicare 208.80
Less: Federal Income Tax 2,592.00
Net Pay $10,706.40
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