Compute payroll <. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Computer Programmer $55 per hour Administrator $70 per hour 2 times hourly rate 1.5 times hourly rate $452 $642 Consultant $6,000 per week Not applicable $1,380 Regular earnings rate Overtime earnings rate 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 46 hours and the administrator worked 50 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. When required round intermediate calculations and final answers to two decimal places. Computer Programmer Administrator Consultant Gross pay Net pay

Compute payroll <. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Computer Programmer $55 per hour Administrator $70 per hour 2 times hourly rate 1.5 times hourly rate $452 $642 Consultant $6,000 per week Not applicable $1,380 Regular earnings rate Overtime earnings rate 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 46 hours and the administrator worked 50 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. When required round intermediate calculations and final answers to two decimal places. Computer Programmer Administrator Consultant Gross pay Net pay

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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