Question: Problem 5 - 1 B ( Algo ) Required: Compute the net pay for Merritt Gamal and Cove Green. Assume that they are paid biweekly,

Problem 5-1B (Algo) Required: Compute the net pay for Merritt Gamal and Cove Green. Assume that they are paid 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. Merritt's deduction with participation in the cafeteria plan is $75; Cove's is $250. There is no deduction if they do not participate in the cafeteria plan. The cafeteria plan qualifies for Section 125. There are no state income taxes, and you do not need to complete the number of hours. All W-4s were received in 2023, and there is no information for Step 4. Cove did check the box in Step 2. Note: Round your intermediate calculations and final answers to 2 decimal places.

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