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 in available for each employee: Consultant Computer

image text in transcribed

Calculate Payroll K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll in available for each employee: Consultant Computer Programmer Administrator Regular earnings rate $3,010 per week $28 per hour $46 per hour Overtime earnings rate Not applicable 2 times hourly rate 1.5 times hourly rate Federal income tax withheld $920 $254 $515 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 63 hours. Assume furt 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 wo a week are 40 hours. If required, round your answers to two decimal places. Consultant Computer Programmer Administrator Gross pay 3,010 $ 2,210 x 3,278 X Net pay $ 1,114.25 X $ 1,883.60 x $ 2,517.15 x Feedback Check My Work Gross pay represents the total earnings of an employee for a specific pay period, prior to taxes and deductions. Net pa known as take-home pay

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

Curriculum Auditing

Authors: Fenwick W. English

1st Edition

0877625921, 978-0877625926

More Books

Students also viewed these Accounting questions