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6 April, 12:18

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 $2,310/week $32/hour $50/hour

Overtime earnings rate Not applicable 2 x hourly rate 1.5 x hourly rate

Federal income tax withheld $930 $258 $510

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 51 hours and the administrator worked 61 hours. Assume further that the social security tax rate was 6%, 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. If required, round your answers to two decimal places.

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  1. 6 April, 15:45
    0
    Consultant Programmer Administrator

    Gross income $2310 $1984 $3575

    Net Income $1206.75 $1577.20 $2796.87

    Explanation:

    Consultant Programmer Overtime Administrator Overtime

    Hours worked 2310 40 11 40 21

    Applicable rate 1 32 64 50 75

    Total 2310 1280 704 2000 1575

    Gross income

    Consultant = $2310

    Programmer = $1984

    Administrator = $3575

    Net Income Consultant Programmer Administrator

    Gross 2310 1984 3575

    Federal tax (930) (258) (510)

    Social security (138.6) (119.04) (214.5)

    Medical tax (34.65) (29.76) (53.63)

    Net income 1206.75 1577.20 2796.87
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