Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Compute payroll K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Computer

Compute payroll K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Computer Programmer $30 per hour 2 times hourly rate $239 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 52 hours and the administrator worked 63 hours. Assume that the social security tax rate was 6.0%, and the Medicare tax rate was 1.5%. Regular earnings rate Overtime earnings rate Federal income tax withheld Gross pay Net pay Consultant Consultant 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. When required round intermediate calculations and final answers to two decimal places. Computer Programmer $ 2,510 $2,510 per week Not applicable $915 Administrator $ $48 per hour 1.5 times hourly rate $505 Administrator
image text in transcribed
K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employec: 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 52 hours and the administrator worked 63 hours. Assume that the social security tax rate was 6.0%, 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 working hours in a week are 40 hours. When required round intermediate calculations and final answers to two decimal places

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_2

Step: 3

blur-text-image_3

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

Investing In People Financial Impact Of Human Resource Initiatives

Authors: John W. Boudreau, Wayne F. Cascio, Alexis A. Fink

3rd Edition

1586446096, 978-1586446093

More Books

Students also viewed these Accounting questions

Question

When is it appropriate to use a root cause analysis

Answered: 1 week ago