Compute the net pay for Eve Khan and Marn Hart. Assume that they are paid a $2.710 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. Name Eve Khan-no cafeteria plan Eve Khan-cafeteria plan Mamn Hart-no cafeteria plan Marn Hart-cafeteria plan Name Eve Khan-no cafeteria plan Eve Khan-cafeteria plan Marn Hart-no cafeteria plan Marn Hart-cafeteria plan Filing Status MJ MJ S S Dependents 2417 2-17 0 0 Taxable Wages Gross Earnings for Federal or State W/H Period wage $ 2.710.00 $2,710.00 $ 2,710.00 $2,710 00 Taxable Wages for FICA Number of Regular Hours Federal WH Number of Overtime Hours Social Security Tax Number of Holiday Hours Medicare WH Tax Commissions State W Tax Gros Eanngu
Compute the net pay for Eve Khan and Marn Hart. Assume that they are paid a $2.710 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. Name Eve Khan-no cafeteria plan Eve Khan-cafeteria plan Mamn Hart-no cafeteria plan Marn Hart-cafeteria plan Name Eve Khan-no cafeteria plan Eve Khan-cafeteria plan Marn Hart-no cafeteria plan Marn Hart-cafeteria plan Filing Status MJ MJ S S Dependents 2417 2-17 0 0 Taxable Wages Gross Earnings for Federal or State W/H Period wage $ 2.710.00 $2,710.00 $ 2,710.00 $2,710 00 Taxable Wages for FICA Number of Regular Hours Federal WH Number of Overtime Hours Social Security Tax Number of Holiday Hours Medicare WH Tax Commissions State W Tax Gros Eanngu
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
am. 12.
Transcribed Image Text:Compute the net pay for Eve Khan and Marn Hart. Assume that they are paid a $2.710 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.
Name
Eve Khan-no cafeteria plan
Eve Khan-cafeferia plan
Mam Hart-no cafeteria plan
Marn Harl-cafeteria plan
Name
Eve Khan-no cafeteria plan
Eve Khan-cafeteria plan
Marn Hart-no cafeteria plan
Marn Hart-cafeteria plan
Filing Status
MJ
MJ
S
S
Dependents
2417
2-17
0
0
Taxable Wages
Gross Earnings for Federal or
State WH
Period wage
$2.710.00
$ 2,710.00
$ 2,710.00
$ 2,710.00
Taxable
Wages for
FICA
Number of
Regular
Hours
Federal WH
Number of
Overtime Hours
Social Security
Tax
4
Number of
Holiday Hours
Medicare WH Tax
Commons
State WH Tax
Gross Earnings
Not Pay
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