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: Regular earnings rate Overtime earnings rate* Number of withholding allowances Consultant Computer Programmer Administrator $5,000 per week $80 per hour $50 per hour Not applicable 1.5 times hourly rate 2 times hourly rate 2 1 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 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 6.0%, the Medicare tax rate was 1.5%, 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 Gross pay x Net pay 3,434.30 Feedback Computer Programmer x Administrator x Check My Work Gross pay represents the total earnings of an employee for a specific pay period, prior to taxes and deductions. Net pay is also known as take-home pay. Locate the proper withholding wage bracket in the withholding table. Pay attention to the number of exemptions each employee is claiming.