Compute payroll K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Computer Programmer Regular earnings rate $28 per hour Overtime earnings rate 2 times hourly rate Federal income tax withheld $255 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 53 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%. Gross pay Net pay Feedback 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 to two decimal places. Administrator $ Consultant Consultant $2,110 per week Not applicable $910 2,110 ✔ $1,951.75 X Computer Programmer 1,848 ✔ $1,709.40 x Administrator $ $50 per hour 1.5 times hourly rate $510 3,875 ✔ 3,584.37 X 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

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Compute 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
Computer Programmer
$28 per hour
2 times hourly rate
$255
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 53 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%.
Gross pay
Net pay
Feedback
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 to two decimal places.
Computer Programmer
Administrator
$ 1,848
Check My Work
Consultant
Consultant
2,110
$2,110 per week
Not applicable
$910
Administrator
1,951.75 X
$ 1,709.40 X
$50 per hour
1.5 times hourly rate
$510
$ 3,875
$3,584.37 X
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.
Transcribed Image Text:Compute 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 Computer Programmer $28 per hour 2 times hourly rate $255 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 53 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%. Gross pay Net pay Feedback 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 to two decimal places. Computer Programmer Administrator $ 1,848 Check My Work Consultant Consultant 2,110 $2,110 per week Not applicable $910 Administrator 1,951.75 X $ 1,709.40 X $50 per hour 1.5 times hourly rate $510 $ 3,875 $3,584.37 X 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.
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