Answered step by step
Verified Expert Solution
Question
1 Approved Answer
S S O eBook Show Me How 9 Calculate Payroll K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following
S S O eBook Show Me How 9 Calculate Payroll K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Regular earnings rate Overtime earnings rate Federal income tax withheld Consultant Computer Programmer Administrator $2,410 per week $28 per hour Not applicable 2 times hourly rate $44 per hour 1.5 times hourly rate $920 $245 $510 < 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 51 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 2,410 Computer Programmer x Administrator Net pay Feedback Check My Work 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. Gross pay
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started