Tom's gross pay for the month is $2,700
Tom's deduction for federal income tax is based on a rate of 21%. Tom has no voluntary deductions. Tom's yearly pay is under the limit for OASDI. What is the amount of FICA tax withheld from Tom's pay? (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of
1.45%.)
A) $773.55
B) $206.55
C) $567.00
D) $387.45
B .FICA withheld = FICA—OASDI Tax of 6.2% + FICA—Medicare Tax
FICA withheld = ($2,700 x 0.062 ) + ($2,700 x 0.0145 ) = $206.55
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