Question: Snyder Company has three employeesa consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: * For hourly employees,
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* 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 60 hours and the administrator worked 50 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%, the Medicare tax rate was 1.5%, and one withholding allowance is $70.
Determine the gross pay and the net pay for each of the three employees for the current payperiod.
Consultant $3,800 per week Not applicable Computer Program Administrator Regular earnings rate Overtime earnings rate Number of withholding allowances $40 per hour 1.5 times hourly rate $44 per hour 2 times hourly rate likl
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Computer Consultant Programmer Administrator Regular earnings 380000 160000 176000 Overtime earning... View full answer
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