Question

An employee earns $30 per hour and 1.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 hourly employees, overtime is paid for hours worked in excess of 40 hours per week. 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. if required, round your answers to two decimal places.5 times that rate for all hours in excess of 40 hours per week. if the employee worked 54 hours during the week. assume that the social security tax rate is 6.0%, the medicare tax rate is 1.5%, and the employee’s federal income tax withheld is $295.

Answer 1

To calculate the gross pay and net pay for each employee, we need to consider their regular earnings, any overtime earnings, and the federal income tax withheld. We can calculate this information for the consultant, computer programmer, and administrator.

Step-by-step explanation:

To calculate the gross pay and net pay for each employee, we need to consider their regular earnings and any overtime earnings, as well as the federal income tax withheld. Let's calculate for each employee:

• The consultant's gross pay is $5,000 with no overtime, so the net pay is $5,000 minus the federal income tax withheld of $1,150.
• The computer programmer worked 48 hours, which includes 8 hours of overtime. So the gross pay is ($50/hour x 40 hours) + ($50/hour x 2 x 8 hours), and the net pay is the gross pay minus the federal income tax withheld of $428, as well as the social security tax and medicare tax.
• The administrator worked 51 hours, which includes 11 hours of overtime. So the gross pay is ($60/hour x 40 hours) + ($60/hour x 1.5 x 11 hours), and the net pay is the gross pay minus the federal income tax withheld of $572, as well as the social security tax and medicare tax.