Graded Problems CH 5 Saved Help Save & Exit Submit Check my work 1 Compute the net pay for Karen Wilson and Katie Smith. Assume that they are paid a $3,040 salary biweekly, subject to federal income tax (use the wage-bracket method) in Appendix Cand 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.) 3.88 points eBook Hint Print Name Filing Status Hourly Rate or Period wage No. of Regular No. of Overtime Hours Hours No. of Holiday Hours Commissions Gross Earnings References $ Karen Wilsonno cafeteria plan Karen Wilson-cafeteria plan Katie Smith-no cafeteria plan Katie Smith-cafeteria plan MJ-2 MJ-2 S-O S-0 $ 3,040.00 $ 3,040.00 $ 3,040.00 $ 3,040.00 Taxable Section 125 Wages for Federal / State W/H 0.00 $ 3,040.00 100.00 $ 2,940.00 0.00 $ 3,040.00 100.00 $ 2,940.00 3,040.00 $ 3,040.00 $ 3,040.00 $ 3,040.00 $ $ $ $ Taxable Name Gross Earnings Wages for Taxable Wages for FICA Federal W/H Social Security Tax Medicare W/H Tax State W/H Tax Federal State WIH Net Pay Mc Graw Hill Prev 1 of 9 Next > Graded Problems CH 5 Saved Help Save & Exit Submit Check my work Hours Hours Hours 1 wage $ Karen Wilsonno cafeteria plan Karen Wilson-cafeteria plan Katie Smith-no cafeteria plan Katie Smith-cafeteria plan $ MJ-2 MJ-2 S-O S-0 $ 3,040.00 $ 3,040.00 $ 3,040.00 $ 3,040.00 3,040.00 $ 3,040.00 $ 3,040.00 $ 3,040.00 $ Federal / State W/H 0.00 $ 3,040.00 100.00 $ 2.940.00 0.00 $ 3,040.00 100.00 $ 2,940.00 3.88 points $ $ Name Federal W/H Social Security Tax Medicare W/H Tax State W/H Tax Net Pay eBook Hint Taxable Taxable Gross Earnings Wages for Federal Wages for FICA State W/H $ 3,040.00 $ 3,040.00 $ 3,040.00 $ 3,040.00 $ 2,940.00 $ 2.940.00 $ 3,040.00 $ 3,040.00 $ 3,040.00 $ 3,040.00 $ 2,940.00 $ 2,940.00 Karen Wilson-no cafeteria plan Karen Wilson-cafeteria plan Katie Smith-no cafeteria plan Katie Smith-cafeteria plan Print References Mc Graw Hill Prev 1 of 9 Next > Graded Problems CH 5 Saved Help Save & Exit Submit Check my work 1 Compute the net pay for Karen Wilson and Katie Smith. Assume that they are paid a $3,040 salary biweekly, subject to federal income tax (use the wage-bracket method) in Appendix Cand 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.) 3.88 points eBook Hint Print Name Filing Status Hourly Rate or Period wage No. of Regular No. of Overtime Hours Hours No. of Holiday Hours Commissions Gross Earnings References $ Karen Wilsonno cafeteria plan Karen Wilson-cafeteria plan Katie Smith-no cafeteria plan Katie Smith-cafeteria plan MJ-2 MJ-2 S-O S-0 $ 3,040.00 $ 3,040.00 $ 3,040.00 $ 3,040.00 Taxable Section 125 Wages for Federal / State W/H 0.00 $ 3,040.00 100.00 $ 2,940.00 0.00 $ 3,040.00 100.00 $ 2,940.00 3,040.00 $ 3,040.00 $ 3,040.00 $ 3,040.00 $ $ $ $ Taxable Name Gross Earnings Wages for Taxable Wages for FICA Federal W/H Social Security Tax Medicare W/H Tax State W/H Tax Federal State WIH Net Pay Mc Graw Hill Prev 1 of 9 Next > Graded Problems CH 5 Saved Help Save & Exit Submit Check my work Hours Hours Hours 1 wage $ Karen Wilsonno cafeteria plan Karen Wilson-cafeteria plan Katie Smith-no cafeteria plan Katie Smith-cafeteria plan $ MJ-2 MJ-2 S-O S-0 $ 3,040.00 $ 3,040.00 $ 3,040.00 $ 3,040.00 3,040.00 $ 3,040.00 $ 3,040.00 $ 3,040.00 $ Federal / State W/H 0.00 $ 3,040.00 100.00 $ 2.940.00 0.00 $ 3,040.00 100.00 $ 2,940.00 3.88 points $ $ Name Federal W/H Social Security Tax Medicare W/H Tax State W/H Tax Net Pay eBook Hint Taxable Taxable Gross Earnings Wages for Federal Wages for FICA State W/H $ 3,040.00 $ 3,040.00 $ 3,040.00 $ 3,040.00 $ 2,940.00 $ 2.940.00 $ 3,040.00 $ 3,040.00 $ 3,040.00 $ 3,040.00 $ 2,940.00 $ 2,940.00 Karen Wilson-no cafeteria plan Karen Wilson-cafeteria plan Katie Smith-no cafeteria plan Katie Smith-cafeteria plan Print References Mc Graw Hill Prev 1 of 9 Next >
