Answer:
Step-by-step explanation:
First, we need to calculate Jonsie's gross pay for each paycheck:
$1,200 per week x 2 weeks = $2,400
Next, we can calculate the Social Security and Medicare deductions:
Social Security: 6.2% of $142,800 = $8,855.20 (this is the maximum amount that can be taxed for Social Security)
Medicare: 1.45% of $2,400 = $34.80
Now we can calculate Jonsie's taxable income:
$2,400 gross pay - $8,855.20 Social Security - $34.80 Medicare - $42.50 health insurance = $2,477.50
Using the percentage method for federal income tax withholding, we need to calculate Jonsie's FIT based on his taxable income:
$2,477.50 - $1,038 = $1,439.50 taxable income subject to FIT
$1,439.50 x 12% = $173.94 FIT
Finally, we can calculate Jonsie's net pay:
$2,400 gross pay - $8,855.20 Social Security - $34.80 Medicare - $42.50 health insurance - $173.94 FIT = $2,293.56 net pay
Therefore, Jonsie's net pay is $2,293.56.