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. Overtime earnings rate Federal income tax withheld $3,110 per week. $34 per hour Not applicable $915 2 times hourly rate $251 For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. Gross pay Net pay Consultant For the current pay period, the computer programmer worked 53 hours and the administrator worked 61 hours. Assume that the social security tax rate was 6.0%, 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. When required round intermediate calculations and final answers to two decimal places. Consultant $ Administrator $46 per hour 1.5 times hourly rate $500 Computer Programmer Administrator
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. Overtime earnings rate Federal income tax withheld $3,110 per week. $34 per hour Not applicable $915 2 times hourly rate $251 For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. Gross pay Net pay Consultant For the current pay period, the computer programmer worked 53 hours and the administrator worked 61 hours. Assume that the social security tax rate was 6.0%, 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. When required round intermediate calculations and final answers to two decimal places. Consultant $ Administrator $46 per hour 1.5 times hourly rate $500 Computer Programmer Administrator
Chapter1: Financial Statements And Business Decisions
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
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:
Consultant
$3,110 per week.
Computer Programmer
$34 per hour
Regular earnings rate
Overtime earnings rate
Not applicable
$915
2 times hourly rate
$251
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 53 hours and the administrator worked 61 hours. Assume that the social security tax rate was 6.0%, 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. When required round intermediate calculations
and final answers to two decimal places.
Consultant
Gross pay
Net pay
$
Computer Programmer
Administrator
$46 per hour
1.5 times hourly rate
$500
Administrator
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