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 Administrator Computer Programmer Regular earnings rate $2,910 per week $46 per hour $34 per hour 2 times hourly rate Overtime earnings rate Not applicable 1.5 times hourly rate Federal income tax withheld $505 $925 $243 For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. For the current pay perlod, the computer programmer worked 54 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. Administrator Computer Programmer Consultant Gross pay Net pay Payroll Entries Widmer Company had gross wages of $298,000 during the week ended June 17. The amount of wages subject to social security tax was $268,200, while the amount of wages subject to federal and state unemployment taxes was $37,000. Tax rates are as follows: Social security 6.0% Medicare 1.5% State unemployment 5.4% Federal unemployment 0.8% The total amount withheld from employee wages for federal taxes was $59,600. If an amount box does not require an entry, leave it blank. If required, round answers to two decimal places. a. Journalize the entry to record the payroll for the week of June 17. June 7 Wages Expense Social Security Tax Payable Medicare Tax Payable y Employees Federal Income Tax Payable Wages Payable Feedack ChMy Work Gross pay is the amount that employees have earned before taxes and deductions. A portion of employees' earnings are owed for such items as state and federal taxes. Net pay is also known as take-home pay. b. Journalize the entry to record the payroll tax expense incurred for the week of June 17. June 7 Payroll Tax Expense Social Serurity Tax Payable Medicare Tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable Nest Pension Plan Entries Yuri Co. operates a chain of gift shops. The company maintains a defined contribution pension plan for its employees. The plan requires quarterly installments to be paid to the funding agent, Whims Funds, by the fifteenth of the month following the end of each quarter. Assume that the pension cost is $146,900 for the quarter ended December 31. a. Journalize the entry to record the accrued pension liability on December 31. Pension Expense y 88 Dec. 31 Unfunded Pension Liability Feedhack Y Check My Work Pay attention to the dates given in the exercise. Remember that expenses may be recorded in the period to which they relate, not when cash is paid. Journalize the entry to record the accrued pension liability payment to the funding agent on January 15. Unfunded Pension Liability v Jan. 15 Cash 00 Accrued Product Warranty Fosters Manufacturing Co. warrants its products for one year. The estimated product warranty is 3% of sales. Assume that sales were $187,000 for January. On February 7, a customer received warranty repairs requiring $290 of parts and $100 of labor. a. Journalize the adjusting entry required at January 31, the end of the first month of the current fiscal year, to record the accrued product warranty. If an amount box does not require an entry, leave it blank. 88 b. Journalize the entry to record the warranty work provided in February. If an amount box does not require an entry, leave it blank