Question
Calculate The total amount paid to employees for a certain period.Payroll Diego Company has three employeesa consultant, a computer programmer, and an administrator. The following
Calculate The total amount paid to employees for a certain period.Payroll
Diego 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 | $3,800 per week | $38 per hour | $42 per hour | |||
Overtime earnings rate* | Not applicable | 2 times hourly rate | 1.5 times hourly rate | |||
Number of withholding allowances | 1 | 2 | 2 | |||
* 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 55 hours and the administrator worked 52 hours. The federal income tax withheld for all three employees, who are single, can be determined from the wage bracket withholding table in Exhibit 3. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and one withholding allowance is $75.
Determine the The total earnings of an employee for a payroll period.gross pay and the Gross pay less payroll deductions; the amount the employer is obligated to pay the employee.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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