Answer:
To calculate Social Security and Medicare tax withheld as well as total deductions, you can use the provided tax rates and the gross pay for each amount.
Social Security Tax:
Gross Pay: $125.00
Tax Rate: 6.2% (0.062 in decimal form)
Social Security Tax = Gross Pay x Tax Rate
Social Security Tax = $125.00 x 0.062
Social Security Tax = $7.75
Medicare Tax:
Gross Pay: $125.00
Tax Rate: 1.45% (0.0145 in decimal form)
Medicare Tax = Gross Pay x Tax Rate
Medicare Tax = $125.00 x 0.0145
Medicare Tax = $1.81
Now, let's calculate for the other amounts:
For Gross Pay: $432.00
Social Security Tax: $432.00 x 0.062 = $26.78
Medicare Tax: $432.00 x 0.0145 = $6.26
Total Deductions: $26.78 + $6.26 = $33.04
For Gross Pay: $241.00
Social Security Tax: $241.00 x 0.062 = $14.92
Medicare Tax: $241.00 x 0.0145 = $3.50
Total Deductions: $14.92 + $3.50 = $18.42
For Gross Pay: $1,562.00
Social Security Tax: $1,562.00 x 0.062 = $96.74
Medicare Tax: $1,562.00 x 0.0145 = $22.66
Total Deductions: $96.74 + $22.66 = $119.40
For Gross Pay: $2,521.00
Social Security Tax: $2,521.00 x 0.062 = $156.27
Medicare Tax: $2,521.00 x 0.0145 = $36.58
Total Deductions: $156.27 + $36.58 = $192.85
So, the Social Security tax, Medicare tax, and total deductions for each of the given gross pay amounts are as follows:
Gross Pay: $125.00
Social Security Tax: $7.75
Medicare Tax: $1.81
Total Deductions: $9.56
Gross Pay: $432.00
Social Security Tax: $26.78
Medicare Tax: $6.26
Total Deductions: $33.04
Gross Pay: $241.00
Social Security Tax: $14.92
Medicare Tax: $3.50
Total Deductions: $18.42
Gross Pay: $1,562.00
Social Security Tax: $96.74
Medicare Tax: $22.66
Total Deductions: $119.40
Gross Pay: $2,521.00
Social Security Tax: $156.27
Medicare Tax: $36.58
Total Deductions: $192.85
Explanation: