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Floatin Away Company has three employees -a consultant, a computer programmer, and an administrator. The...

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Accounting

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Floatin Away Company has three employees -a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee? -ror nourty employees, overtime is paid for hours worked in excess of 40 hours per week. For the current pay period, the computer programmer worked 60 hours and the administrator worked 50 hours. The federal income tax withineld for all three employee who are sinste, can be determined by adding $276.54 to 24% of the difference between the employee's amount subject to withholding and $1,692.00. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and one withholding allowance is $81. Determine the gross pay and the net pay for each of the three employees for the current pay penod. Assume the normal working hours in a week are 40 hours. If required, round your answers to two decimal places. Futiled rowak wh work Gross pay represents the tecal eornings of an employee for a specific pyy period, prior to taves and deductions, Net pay is alsa knawn as take-hame par. Locate the proper withbolding woge bracket in the withhoiding table pay attention to the number of exemptions each employee is claiming

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