CengageNOWv21Online teachin X ilm/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator=assignment-take&inprogress-false 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: Administrator Computer Programmer Consultant $50 per hour $36 per hour $2,510 per week Regular earnings rate 1.5 times hourly rate 2 times hourly rate Not applicable Overtime earnings rate $500 $253 $930 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 52 hours and the administrator worked 61 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. Administrator Consultant Computer Programmer Gross pay Net pay Previous Next Check My Work Email Instructor Submit Assignment for Grading All work saved. Time Remaining: 1:14:39 3:24 PM e 11/17/2019 search hp end home pr sc to 144 dn 6a o1ap $ 4 % 5 & 7 num Dackspoce 9 6 lock 7 R T home enter F pause tA 69 69
CengageNOWv21Online teachin X ilm/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator=assignment-take&inprogress-false 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: Administrator Computer Programmer Consultant $50 per hour $36 per hour $2,510 per week Regular earnings rate 1.5 times hourly rate 2 times hourly rate Not applicable Overtime earnings rate $500 $253 $930 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 52 hours and the administrator worked 61 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. Administrator Consultant Computer Programmer Gross pay Net pay Previous Next Check My Work Email Instructor Submit Assignment for Grading All work saved. Time Remaining: 1:14:39 3:24 PM e 11/17/2019 search hp end home pr sc to 144 dn 6a o1ap $ 4 % 5 & 7 num Dackspoce 9 6 lock 7 R T home enter F pause tA 69 69
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:CengageNOWv21Online teachin X
ilm/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator=assignment-take&inprogress-false
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:
Administrator
Computer Programmer
Consultant
$50 per hour
$36 per hour
$2,510 per week
Regular earnings rate
1.5 times hourly rate
2 times hourly rate
Not applicable
Overtime earnings rate
$500
$253
$930
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 52 hours and the administrator worked 61 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.
Administrator
Consultant
Computer Programmer
Gross pay
Net pay
Previous
Next
Check My Work
Email Instructor
Submit Assignment for Grading
All work saved.
Time Remaining: 1:14:39
3:24 PM
e
11/17/2019
search
hp
end
home
pr sc
to 144
dn 6a
o1ap
$
4
%
5
&
7
num
Dackspoce
9
6
lock
7
R T
home
enter
F
pause
tA
69
69
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