Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Calculate Payroll Breakdn Away Company has three employees a consultant, a computer programmer and an administrator. The following payroll Information is available for each employee

image text in transcribed
Calculate Payroll Breakdn 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 camings rate $2,710 per week $30 per hour $40 per hour Overtime earnings rate Not applicable 1.5 times hourly rate 2 times hourly rate Number of withholding allowances 2 1 For the current pay period, the computer programmer worked 60 hours and the administrator worked so 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 51,796.00. 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 poy 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

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting What the Numbers Mean

Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,

9th Edition

978-0-07-76261, 0-07-762611-7, 9780078025297, 978-0073527062

Students also viewed these Accounting questions