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Compute the net pay for Evelyn Khan and Margaret Rheinhart. Assume that they are paid a $2,500 salary biweekly, subject to federal income tax
Compute the net pay for Evelyn Khan and Margaret Rheinhart. Assume that they are paid a $2,500 salary biweekly, subject to federal income tax (use the wage-bracket method) in Appendix C and FICA taxes, and have no other deductions from their pay. They have a state tax rate of 3 percent. If they choose to participate in the cafeteria plan, the deduction for the pay period is $100; otherwise, there is no deduction for the cafeteria plan. The cafeteria plan qualifies under Section 125. You do not need to complete the number of hours. Additional information for Evelyn: Box 2 is not checked, and the dependents are under 17. (Round your intermediate calculations and final answers to 2 decimal places.) Answer is complete but not entirely correct. Hourly Rate Name Filing Status or Period Dependents wage Number of Regular Hours Number of Overtime Hours Number of Holiday Hours Taxable Wages for Commissions Gross Earnings Federal or Section 125 Taxable Wages for State W/H FICA Evelyn Khan-no cafeteria plan MJ 2
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