Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Calculate Payroll K. Mello 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 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 Overtime case Not applicable 2 times hourly rate 1.5 tmes hourly rate Federal income tax wishes 9910 5250 5510 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 51 hours and the administrator worked 61 hours. Assume further that the social security tax rate was 6%, 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. Assume the normal working hours in a week are 40 hours. If required, round your answers to two decimal places. Consultant Computer Programmer Administrator Grossa 3,310 3,102 1,465,40 1,48 x 2.151.75 Gross pay represents the total earnings of an employee for a specific pay period, prior to taxes and deductions. Net pay is also known as take-home pay. Learning Objective 2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Financial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

9th Edition

1118334329, 978-1118334324

More Books

Students also viewed these Accounting questions

Question

Excel caculation on cascade mental health clinic

Answered: 1 week ago