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Calculate Payroll K. Mello Company has three employeesa consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Consultant
Calculate Payroll
K. Mello Company has three employeesa consultant, a computer programmer, and an administrator. The following payroll information is available for each employee:
Consultant | Computer Programmer | Administrator | ||||
Regular earnings rate | $4,000 per week | $30 per hour | $40 per hour | |||
Overtime earnings rate | Not applicable | 2 times hourly rate | 1.5 times hourly rate | |||
Federal income tax withheld | $925.00 | $248.00 | $505.00 | |||
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 44 hours and the administrator worked 48 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. If required, round your answers to two decimal places.
Consultant | Computer Programmer | Administrator | |
Gross pay | $ | $ | $ |
Net pay | $ | $ | $ |
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