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Jasmine has a gross pay of $754.80. By how much will Jasmifie's gross pay be reduced if sh
withheld?
federal tax of $31
Social Security tax that is 6.2% of her gross pay
Medicare tax that is 1.45% of her gross pay
state tax that is 18% of her federal tax
a. $94.32
b. $192.83
c $224 60
$323-11
Please select the best answer from the choices provided
E
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znk

Answer:

a. $94.32  

Step-by-step explanation:

                                   Federal tax =  $   31.00

Social Security = 0.062 × 754.80 =      46.80

           Medicare = 0.145 × 754.80 =     10.94

                       State tax = 0.18 × 31 =      5.58

                            Total deductions = $94.32

Jasmine's pay will be reduced by $94.32.

yersanabria

Answer:

Jasmine's gross pay will be reduced in:

  • a. $94.32.

Step-by-step explanation:

To identify the total money that will be withheld from Jasmine, each of the taxes that you must pay must be calculated and in the end add them, therefore, the first tax to take into account will be:

  • Federal tax = $ 31

Now the social security tax is calculated, which it says is 6.2% of your gross salary, so it is calculated as:

  • Social security tax = $ 754.80 * 6.2% = $ 46.7976

Medicare tax says it is 1.45% of your gross salary, so it is calculated as:

  • Medicare tax = $ 754.80 * 1.45% = $ 10.9496

Finally, the state tax, which corresponds to 18%, but not of the gross income but of the federal tax, for which it is calculated:

  • State tax = $ 31 * 18% = $ 5.58

Thus, at the end all the taxes are added and the reduction of Jasmine's salary is obtained:

  • Jasmine's salary reduction = $ 31 + $ 46.7976 + $ 10.9496 + $ 5.58 = 94.3272

Giving the most appropriate option a.

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