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Floatin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: For hourly employees,
Floatin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: "For hourly employees, overtime is paid for hours workedrin 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. \begin{tabular}{l} EX M IB IT 2 \\ Wage Bracket \\ Withholding Table \\ \hline \end{tabular} Percentage Method Tables for Income Tax Withholding" (For Wages Paid in 20Y6) TARI F 1_WIFFKI V Davrall Dorind
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