Compute the net pay for Karen Wilson and Katie Smith. Assume that they are paid a $2,500 salary biweekly, subject to federal income tax (use the wage bracket method) in Appendix 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 Karen Box 2 is not checked and the dependents are under 17. Additional information for Katie Box 2 is checked. (Round your intermediate calculations and final answers to 2 decimal places.) Hint Name Fing Status No. of Regular Hours No of Overtime Hours No. of Holiday Hours Commissions Gross Earrings Section 125 Karen Wilson plan Karen Wilson-cafeteria plan Katie Smith no cafeteria plan Kalle Smith-cafeteria plan MJ2 M2 30 SO Hourly Rate or Period wage $ 2,500.00 $ 2.500.00 $ 250000 $ 2.500.00 Taxable Wages Federal State WH rence Name Gross Earrings Taxable Wages for FICA Federal WH Social Security T Medio WH Tax State WH NetPay Karen Wicon-cafeteria dlan Karen Winterpan Katie Smith no cafeteria plan Katie Stafetna plan are paid a $2,500 salary biweekly, subject to federal income ave no other deductions from their pay. They have a state tax eduction for the pay period is $100; otherwise, there is no on 125. You do not need to complete the number of pendents are under 17. Additional information for Katie: Box 2 2 decimal places.) No. of Overtime Hours No. of Holiday Hours Commissions Gross Earnings Section 125 Taxable Wages for Federal / State WH Taxable Wages for FICA for Federal WH Social Security Tax Medicare W/H Tax State WH Tax Net Pay Compute the net pay for Karen Wilson and Katie Smith. Assume that they are paid a $2,500 salary biweekly, subject to federal income tax (use the wage bracket method) in Appendix 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 Karen Box 2 is not checked and the dependents are under 17. Additional information for Katie Box 2 is checked. (Round your intermediate calculations and final answers to 2 decimal places.) Hint Name Fing Status No. of Regular Hours No of Overtime Hours No. of Holiday Hours Commissions Gross Earrings Section 125 Karen Wilson plan Karen Wilson-cafeteria plan Katie Smith no cafeteria plan Kalle Smith-cafeteria plan MJ2 M2 30 SO Hourly Rate or Period wage $ 2,500.00 $ 2.500.00 $ 250000 $ 2.500.00 Taxable Wages Federal State WH rence Name Gross Earrings Taxable Wages for FICA Federal WH Social Security T Medio WH Tax State WH NetPay Karen Wicon-cafeteria dlan Karen Winterpan Katie Smith no cafeteria plan Katie Stafetna plan are paid a $2,500 salary biweekly, subject to federal income ave no other deductions from their pay. They have a state tax eduction for the pay period is $100; otherwise, there is no on 125. You do not need to complete the number of pendents are under 17. Additional information for Katie: Box 2 2 decimal places.) No. of Overtime Hours No. of Holiday Hours Commissions Gross Earnings Section 125 Taxable Wages for Federal / State WH Taxable Wages for FICA for Federal WH Social Security Tax Medicare W/H Tax State WH Tax Net Pay
