Question
Breakin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Consultant Computer Programmer
Breakin Away 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 | $2,110 per week | $28 per hour | $50 per hour | |||
Overtime earnings rate | Not applicable | 1.5 times hourly rate | 2 times hourly rate | |||
Number of withholding allowances | 3 | 2 | 1 |
For the current pay period, the computer programmer worked 60 hours and the administrator worked 50 hours. The federal income tax withheld for all three employees, who are single, can be determined by adding $356.90 to 28% of the difference between the employee's amount subject to withholding and $1,796.00. Assume further that the social security tax rate was 6%, the Medicare tax rate was 1.5%, and one withholding allowance is $70.
Determine the gross pay and the net pay for each of the three employees for the current pay period. Assume the normal working hours in a week are 40 hours. If required, round your answers to two decimal places.
Consultant | Computer Programmer | Administrator | |
Gross pay | $ | $ | $ |
Net pay | $ | $ | $ |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started