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 Regular earnings rate. $2,610 per week $36 per hour Overtime earnings rate. Not applicable 2 times hourly rate $243 Federal income tax withheld $910 For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. Administrator 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%. Gross pay Net pay $48 per hour 1.5 times hourly rate $505 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 Computer Programmer 2,610 Administrator

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 Regular earnings rate. $2,610 per week $36 per hour Overtime earnings rate. Not applicable 2 times hourly rate $243 Federal income tax withheld $910 For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. Administrator 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%. Gross pay Net pay $48 per hour 1.5 times hourly rate $505 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 Computer Programmer 2,610 Administrator

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 3PA

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