Omega Business Consultants has three employees-a consultant, a computer programmer, and an administrator. The following payroll information
Question:
For the current pay period, the computer programmer worked 46 hours and the administrator worked 44 hours. The federal income tax withheld for all three employees, who are single, can be determined from the wage bracket withholding table in Exhibit 3 in the chapter.
Assume further that the social security tax rate was 6.0% on the first $100,000 of annual earnings, 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 payperiod.
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Related Book For
Accounting
ISBN: 978-0324188004
21st Edition
Authors: Carl s. warren, James m. reeve, Philip e. fess
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