Kermit Jacobs is married with 5 allowances. His weekly gross earnings are $1,050.00. He has $56.92 withheld for medical insurance, which are pre-tax dollars. Kermit also contributes $125 in pre-tax dollars each paycheck to a 401k. According to the tax table, he should pay $43 in federal taxes. If Kermit also has 6.2% in Social Security and 1.45% in Medicare taxes withheld, what is his net pay?
A) $868.08
B) $825.08
C) $758.67
D) $749.11

Question

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The Answer of Kermit Jacobs is married with 5 allowances. His weekly gross earnings are $1,050.00. He has $56.92 withheld for medical insurance, which are pre-tax dollars. Kermit also contributes $125 in pre-tax dollars each paycheck to a 401k. According to the tax table, he should pay $43 in federal taxes. If Kermit also has 6.2% in Social Security and 1.45% in Medicare taxes withheld, what is his net pay?
A) $868.08
B) $825.08
C) $758.67
D) $749.11

Kermit Jacobs Is Married with 5 Allowances