Omega Business Consultants has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee:

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.

Computer Programmer Consultant Regular eans rate Overtime earnings rate Gross pay prior to current Administrator $20 per hour times hourly rate $2,500 per week $40 per hour Not applicable imes hourly rate pay period $120,000 $98,900 $38,800 Number of withholding allowances 0 PROVIDING INFORMATION TO USERS Stakeholders Internal: Owners managers employees Extersal: Customers creditors ane2 Identify stakeholders Assess stakeholders informational needs 5 Prepare accounti reports for stakehoiders 4 3 ACCOUNT INFORMATION Record economic data about business activities and events Design the accounting information system to meet stakeholders' needs SYSTEM