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Required: Compute the net pay for Eve Khan and Marn Hart. Assume that they are paid a $2,650 salary biweekly, subject to federal Income
Required: Compute the net pay for Eve Khan and Marn Hart. Assume that they are paid a $2,650 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 Eve: Box 2 is not checked, and the dependents are under 17. Note: Round your Intermediate calculations and final answers to 2 decimal places. Taxable Name Filing Status Dependents Period wage Number of Regular Hours Number of Overtime Hours Number of Holiday Hours Commissions Gross Earnings Section 125 Wages for Federal or State WH Taxable Wages for FICA MJ 2
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