(Solved): Compute the net pay for Karen Wilson and Katie Smith. Assume that they are paid biweekly, subject ...

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.) Name Karen Wilson-no cafeteria plan Karen Wilson-cafeteria plan Katie Smith-no cafeteria plan Katie Smith-cafeteria plan Name Karen Wilson-no cafeteria plan Karen Wilson-cafeteria plan Katie Smith-no cafeteria plan Katie Smith-cafeteria plan M/S M M S S #W/H Hourly Rate No. of or Period wage Reqular Hours 4 $1,600.00 4 $ 1,600.00 1$ 1,600.00 1 $ 1.600.00 Taxable Gross Earnings Wages for Federal W/H Taxable Wages for FICA No. of Overtime Hours Federal W/H No. of Holiday Hours Social Security Tax Commissions Medicare W/H Gross Earnings Section 125 State W/H Tax Net Pay Taxable Wages for Federal W/H Taxable Wages for FICA