To date, jay ward has cumulative earnings of $107,600. this week he is paid $3,000. what is the total amount of social security tax for this week? assume a rate of 6.2% on $110,100 for social security and 1.45% for medicare. a. $186.00 b. $155.00 c. $57.66 d. $180.00

Option B. $155

Step-by-step explanation:

Jay Ward has already been taxed on his earning on $107,600.

So on this paycheck only  ($110,100 - $107,600) = $2,500 of his earnings are taxable for social security tax.

Social security tax rate = 6.2%

Hence, social security tax amount = 6.2% × 2500

                                                         = 0.062 × 2500

                                                         = $155

Option B. $155 is the answer.

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step-by-step explanation: