Prism Business Consultants has three employees —a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee:

For the current pay period, the computer programmer worked 43 hours and the administrator worked 48 hours. Assume that the social security tax rate was 6.0 /o on the first \($70,000\) of annual earnings, and the Medicare tax rate was 1.5%.
Determine the gross pay and the net pay for each of the three employees for the current pay period.

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Regular earnings rate Overtime earnings rate Gross pay prior to current pay period Federal income tax withhold Consultant $3,000 per week Not applicable $108,700 $840 Computer Programmer $28 per hour 1 times hourly rate $69,100 $281 Administrator $22 per hour 1 times hourly rate $39,100 $205