Compute Payroll

Floatin Away 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	$2,010 per week		$32 per hour		$44 per hour
Overtime earnings rate*	Not applicable		1.5 times hourly rate		2 times hourly rate
Number of withholding allowances	3		2		1
*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 60 hours and the administrator worked 50 hours. The federal income tax withheld for all three employees, who are single, can be determined by adding $276.54 to 24% of the difference between the employee's amount subject to withholding and $1,692.00. 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. Assume the normal working hours in a week are 40 hours. If required, round your answers to two decimal places.

	Consultant	Computer Programmer	Administrator
Gross pay	$fill in the blank 1	$fill in the blank 2	$fill in the blank 3
Net pay	$fill in the blank 4	$fill in the blank 5	$fill in the blank 6

Feedback Area

Feedback

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.

Check My Work3 more Check My Work uses remaining.

• Previous
• NCompute Payroll

Floatin Away 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	$2,010 per week		$32 per hour		$44 per hour
Overtime earnings rate*	Not applicable		1.5 times hourly rate		2 times hourly rate
Number of withholding allowances	3		2		1
*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 60 hours and the administrator worked 50 hours. The federal income tax withheld for all three employees, who are single, can be determined by adding $276.54 to 24% of the difference between the employee's amount subject to withholding and $1,692.00. 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. Assume the normal working hours in a week are 40 hours. If required, round your answers to two decimal places.

	Consultant	Computer Programmer	Administrator
Gross pay	$fill in the blank 1	$fill in the blank 2	$fill in the blank 3
Net pay	$fill in the blank 4	$fill in the blank 5	$fill in the blank 6

Feedback Area

Feedback

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.

Check My Work3 more Check My Work uses remaining.

• Previous
• N