Calculate PayrollBreakin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee:ConsultantComputer ProgrammerAdministratorRegular earnings rate$2,310 per week$32 per hour$46 per hourOvertime earnings rateNot applicable1.5 times hourly rate2 times hourly rateNumber of withholding allowances321For 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 $356.90 to 28% of the difference between the employee's amount subject to withholding and $1,796.00. Assume further that the social security tax rate was 6%, the Medicare tax rate was 1.5%, and one withholding allowance is $70.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.ConsultantComputer ProgrammerAdministratorGross pay$$$Net pay$$$ Feedback 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.Locate the proper withholding wage bracket in the withholding table. Pay attention to the number of exemptions each employee is claiming.
Calculate Payroll
Breakin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee:
Consultant
Computer Programmer
Administrator
Regular earnings rate
$2,310 per week
$32 per hour
$46 per hour
Overtime earnings rate
Not applicable
1.5 times hourly rate
2 times hourly rate
Number of withholding allowances
3
2
1
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 $356.90 to 28% of the difference between the employee's amount subject to withholding and $1,796.00. Assume further that the social security tax rate was 6%, the Medicare tax rate was 1.5%, and one withholding allowance is $70.
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
Administrator
Gross pay
$
$
$
Net pay
$
$
$
Feedback
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.
Locate the proper withholding wage bracket in the withholding table. Pay attention to the number of exemptions each employee is claiming.
Trending now
This is a popular solution!
Step by step
Solved in 7 steps with 6 images
