Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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

Consultant Computer Programmer Administrator
Regular earnings rate $2,310 per week $30 per hour $40 per hour
Overtime earnings rate Not applicable 2 times hourly rate 1.5 times hourly rate
Federal income tax withheld $925 $253 $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 52 hours and the administrator worked 62 hours. Assume further that the social security tax rate was 6%, 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. 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

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

Step: 3

blur-text-image

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

Accounting Concepts And Applications

Authors: W. Steve Albrecht, James D. Stice, Earl K. Stice, Monte R. Swain

10th Edition

0324376154, 978-0324376159

More Books

Students also viewed these Accounting questions