Calculate payroll Obj. 2 K. Mello Company has three employeesa consultant, a computer programmer, and an administrator.

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Calculate payroll Obj. 2 K. Mello Company has three employees—a consultant, a computer programmer, and an administrator.

The following payroll information is available for each employee:

Consultant Computer Programmer Administrator Regular earnings rate $5,000 per week $50 per hour $60 per hour Overtime earnings rate Not applicable 2 times hourly rate 1.5 times hourly rate Federal income tax withheld $1,150 $428 $572 For hourly employees, overtime is paid for hours worked in excess of 40 hours per week.

For the current pay period, the computer programmer worked 48 hours and the administrator worked 51 hours. Assume that the social security tax rate was 6.0%, 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.AppendixLO1

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Corporate Financial Accounting

ISBN: 9781337398176

15th Edition

Authors: Carl Warren, Jefferson Jones

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