atin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available ployee: oss pay Consultant gular earnings rate ertime earnings rate* umber of withholding allowances 3 or hourly employees, overtime is paid for hours worked in excess of 40 hours per week. the current pay period, the computer programmer worked 60 hours and the administrator worked 50 hours. The federal income tax withheld for all o are single, can be determined by adding $276.54 to 24% of the difference between the employee's amount subject to withholding and $1,692.00. it the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and one withholding allowance is $81. Consultant $2,410 per week Not applicable 2,410 Computer Programmer $30 per hour 1.5 times hourly rate. 2 termine 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 4 quired, round your answers to two decimal places. Computer Programmer 2,240 Administrator $40 per hour 2 times hourly rate 1 X Administrator 3,000 X
atin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available ployee: oss pay Consultant gular earnings rate ertime earnings rate* umber of withholding allowances 3 or hourly employees, overtime is paid for hours worked in excess of 40 hours per week. the current pay period, the computer programmer worked 60 hours and the administrator worked 50 hours. The federal income tax withheld for all o are single, can be determined by adding $276.54 to 24% of the difference between the employee's amount subject to withholding and $1,692.00. it the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and one withholding allowance is $81. Consultant $2,410 per week Not applicable 2,410 Computer Programmer $30 per hour 1.5 times hourly rate. 2 termine 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 4 quired, round your answers to two decimal places. Computer Programmer 2,240 Administrator $40 per hour 2 times hourly rate 1 X Administrator 3,000 X
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Compute Payroll
Floatin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each
employee:
Gross pay
Net pay
Regular earnings rate
Overtime earnings rate*
Number of withholding allowances
*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 60 hours and the administrator worked 50 hours. The federal income tax withheld for all three employees,
who are single, can be determined by adding $276.54 to 24% of the difference between the employee's amount subject to withholding and $1,692.00. Assume further
that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and one withholding allowance is $81.
Feedback
Consultant
$
$2,410 per week
Not applicable
2,410
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
2,240 X
Computer Programmer
$30 per hour
1.5 times hourly rate
2
3
$
Administrator
$40 per hour
2 times hourly rate
1
Administrator
3,000 X](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0084eb91-f0b9-4c25-b32d-34fab6adb1a4%2Fb4632d7c-9946-4948-9e33-090dbd0c20dc%2Fe1oksvs_processed.png&w=3840&q=75)
Transcribed Image Text:Compute Payroll
Floatin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each
employee:
Gross pay
Net pay
Regular earnings rate
Overtime earnings rate*
Number of withholding allowances
*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 60 hours and the administrator worked 50 hours. The federal income tax withheld for all three employees,
who are single, can be determined by adding $276.54 to 24% of the difference between the employee's amount subject to withholding and $1,692.00. Assume further
that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and one withholding allowance is $81.
Feedback
Consultant
$
$2,410 per week
Not applicable
2,410
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
2,240 X
Computer Programmer
$30 per hour
1.5 times hourly rate
2
3
$
Administrator
$40 per hour
2 times hourly rate
1
Administrator
3,000 X
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