0B).2 come tax to be withheld was $398. a. Determine the gross pay for the week. b. Determine the net pay for the week. OB).2 An employee earns $32 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 55 hours during the week. Assume further that the social security tax rate was 6.096, the Medicare tax rate was 1.5%, and federal Diego Company has three employees-a consultant, a computer programmer, and an ad- 1 Current Liabilities and Payroll EX 11-8 Calculate payroll EX 11-9 Calculate payroll ministrator. The following payroll information is available for each employee: Consultant Computer Programmer Regular earnings rate $3,800 per week $38 per hour Overtime earnings rate Not applicable 2 times hourly rate Number of withholding allowances 1 2 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 55 hours and the ad. ministrator worked 52 hours. The federal income tax withheld for all three employees, who are single, can be determined from the wage bracket withholding table in Exhibit 3 in the chapter. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and one withholding allowance is $75. Determine the gross pay and the net pay for each of the three employees for the current pay period. Administrator $42 per hour 1.5 times hourly rate 2