Question
K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Line Item Description
K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee:
Line Item Description | Consultant | Computer Programmer | Administrator |
---|---|---|---|
Regular earnings rate | $2,010 per week | $28 per hour | $46 per hour |
Overtime earnings rate | Not applicable | 2 times hourly rate | 1.5 times hourly rate |
Federal income tax withheld | $915 | $245 | $515 |
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 53 hours and the administrator worked 61 hours. Assume that the social security tax rate was 6.0%, and the Medicare tax rate was 1.5%.
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.
Open spreadsheet
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.
Line Item Description | Consultant | Computer Programmer | Administrator |
---|---|---|---|
Gross pay | $fill in the blank 2 | $fill in the blank 3 | $fill in the blank 4 |
Net pay | $fill in the blank 5 | $fill in the blank 6 | $fill in the blank 7 |
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