. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Computer Programmer $32 per hour $44 per hour 2 times hourly rate 1.5 times hourly rate $238 $505 Consultant $2,910 per week Regular earnings rate Overtime earnings rate Not applicable $920 Federal income tax withheld 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 55 hours and the administrator worked 65 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. X 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 lecimal places. Gross pay Net pay Consultant 2,910 ✔ 2,042.53 X Computer Programmer 2,380 X 1,700.68 X Administrator $ $ $ Administrator 2,880 X 2,023.18 X

. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Computer Programmer $32 per hour $44 per hour 2 times hourly rate 1.5 times hourly rate $238 $505 Consultant $2,910 per week Regular earnings rate Overtime earnings rate Not applicable $920 Federal income tax withheld 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 55 hours and the administrator worked 65 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. X 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 lecimal places. Gross pay Net pay Consultant 2,910 ✔ 2,042.53 X Computer Programmer 2,380 X 1,700.68 X Administrator $ $ $ Administrator 2,880 X 2,023.18 X

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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