Question: I need help! Compute the net pay for Karen Wilson and Katie Smith. Assume that they are paid biweekly, subject to federal income tax (use
I need help!

Compute the net pay for Karen Wilson and Katie Smith. Assume that they are paid biweekly, subject to federal income tax (use the wage-bracket method) 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. Use the Wage Bracket Method Tables for Income Tax Withholding in Appendix C. (Round your intermediate calculations and final answers to 2 decimal places.) Hourly Rate No. of No. of Taxable Taxable Name M/S # W/H or Period Regular Overtime No. of Holiday Commissions Gross Earnings Section 125 Wages for Wages for wage Hours Hours Hours Federal W/H FICA Karen Wilson-no cafeteria plan M 4 $ 1,600.00 $ 1,600.00 Karen Wilson-cafeteria plan M $ 1,600.00 Katie Smith-no cafeteria plan S 1 $ 1,600.00 Katie Smith-cafeteria plan S 1 $ 1,600.00 Taxable Taxable Name Gross Earnings | Wages for Wages for Federal W/H Social Security FICA Tax Medicare W/H State W/H Tax Net Pay Federal W/H Karen Wilson-no cafeteria plan $ 1,600.00 Karen Wilson-cafeteria plan Katie Smith-no cafeteria plan Katie Smith-cafeteria plan
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