Compute Payroll

Floatin Away 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

Regular earnings rate $$5,000$ per week $$80$ per hour $$50$ per hour

Overtime earnings rate$*$ Not applicable $1\mathrm{.}5$ times hourly rate $2$ times hourly rate

Number of withholding allowances $212$

$*$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 $46$ hours and the administrator worked $50$ hours. The federal income tax withheld for all three employees, who are single, can be determined from the wage bracket withholding table in Exhibit $2.$ Assume further that the social security tax rate was $6\mathrm{.}0\%,$ the Medicare tax rate was $1\mathrm{.}5\%,$ and one withholding allowance is $$81.$

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