Final answer:
Statutory deductions vary by the type of payment—regular wages, overtime, or bonuses—and are calculated differently based on the nature of each payment and specific tax laws.
Step-by-step explanation:
The calculation methods of statutory deductions can indeed vary whether the payment is regular wages, overtime wages, or a bonus. All of these forms of payment are subject to deductions for taxes and other contributions, but the rates and methods for calculating these deductions may differ depending on the type of payment and the laws governing them. For instance, regular wages are generally subject to a consistent percentage for Social Security (6.2%), Medicare (1.45%), and federal and state taxes (which can vary). Overtime wages might be taxed at the same rate, but because they are higher due to time and a half or double pay, the actual amount of taxes deducted can be greater. Bonuses might be treated differently, sometimes being subject to flat tax rates or supplementary rates.