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Clarissa had a gross income of $6380.35 during each pay period in 2005. If she got paid monthly, how much of her pay was deducted for FICA in 2005?

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Final answer:

To calculate the amount of FICA deducted from Clarissa's pay in 2005, multiply her gross income by 12 to get her annual income. Then, calculate the Social Security deduction as 6.2% of the annual income and the Medicare deduction as 1.45% of the annual income. Finally, add the Social Security and Medicare deductions to get the total FICA deduction.

Step-by-step explanation:

To calculate the amount of FICA deducted from Clarissa's pay in 2005, we need to determine the annual income and then calculate the FICA deduction. Since Clarissa gets paid monthly, we can multiply her gross income by 12 to get her annual income: 6380.35 x 12 = $76,564.2.

Next, we need to calculate the FICA deduction. FICA consists of two parts: Social Security and Medicare. The Social Security deduction is 6.2% of the gross annual income, so we multiply the annual income by 0.062: 76564.2 x 0.062 = $4,750.22. The Medicare deduction is 1.45% of the gross annual income, so we multiply the annual income by 0.0145: 76564.2 x 0.0145 = $1,110.91.

Adding the Social Security and Medicare deductions gives us the total FICA deduction: $4,750.22 + $1,110.91 = $5,861.13. Therefore, the amount of Clarissa's pay deducted for FICA in 2005 was $5,861.13.

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