Calculate payrollK. Mello Company has three employees—a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Consultant ComputerProgrammer Administrator Regular earnings rate $5,000 perweek $50 per hour $60 per hour Overtime earnings rate Not applicable 2 times hourly rate 1.5 times hourlyrate Federal income taxwithheld $1,150 $428 $572 For the current pay period, the computer programmer worked 48 hours and the administrator worked 51 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.
Calculate payrollK. Mello Company has three employees—a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Consultant ComputerProgrammer Administrator Regular earnings rate $5,000 perweek $50 per hour $60 per hour Overtime earnings rate Not applicable 2 times hourly rate 1.5 times hourlyrate Federal income taxwithheld $1,150 $428 $572 For the current pay period, the computer programmer worked 48 hours and the administrator worked 51 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.
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter11: Current Liabilities And Payroll
Section: Chapter Questions
Problem 4PB
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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:
| Consultant | Computer Programmer |
Administrator | |
| Regular earnings rate | $5,000 per week |
$50 per hour | $60 per hour |
| Overtime earnings rate | Not applicable | 2 times hourly rate | 1.5 times hourly rate |
| Federal income tax withheld |
$1,150 | $428 | $572 |
For the current pay period, the computer programmer worked 48 hours and the administrator worked 51 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.
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