Calculate Payroll Breakin Away Company has three employees-a consultant, a computer programmet, and an administrator....

50.1K

Verified Solution

Question

Accounting

image
Calculate Payroll Breakin Away Company has three employees-a consultant, a computer programmet, and an administrator. The following payroll information is avallable for each employee: 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 empioye who are single, can be determined by adding $356.90 to 28% of the difference between the employee's amount subject to withhoiding and $1,796.00. Assume furthe that the social security tax rate was 6%, the Medicare tax rate was 1.5%, and one withhoiding 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. It required, round your answers to two decimal places. Feadisas v cleck yy when Gross pay represents the total earnings of an employee for a specific pay period, pror to taxes and deductions. Net pay is aiso known as take-bome pay. Locate the proper withholding wage bracket in the withholding table, Pay attention to the number of exemptions each employee is claiming

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students