1:27 PM v2.cengagenow.com hapter 1 Jackson C... Chapter 1... Cengag. FSA ID FSA

Question

1:27 PM v2.cengagenow.com hapter 1 Jackson C... Chapter 1... Cengag. FSA ID FSA ID What 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: Computer Programmer $32 per hour 1.5 times hourly rate Consultant Administrator $3,010 per week $46 per hour Not applicable 2 times hourly rate Overtime earnings rate Number of withholding a 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 nd S 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 Previous Next

Explanation / Answer

Consultant

Gross Pay = Regular Pay + Overtime Pay

...................= $3,010 + Nil

...................= $3,010

Calculation of Net Pay

Computer Programmer

Gross Pay = Regular Pay + Overtime Pay

...................= ($32 x 40 hours) + ($32 x 1.5 x 20 hours)

...................= $1,280 + $960

...................= $2,240

Calculation of Net Pay

Gross Pay = Regular Pay + Overtime Pay

...................= ($46 x 40 hours) + ($46 x 2 x 10 hours)

...................= $2,760

Calculation of Net Pay

*

Particulars Consultant Gross Pay $3,010 Less: Deductions Federal Income Tax withholding ($638.02) Social Security Tax ($3,010 x 6%) ($180.60) Medicare Tax ($3,010 x 1.5%) ($45.15) Net Pay $2,146.23

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