Question: Hello, I was asked to write a pseudo code for a payroll application. I need help with it all. Basically visual basic code You are

Hello, I was asked to write a pseudo code for a payroll application. I need help with it all. Basically visual basic code

You are asked to write a Payroll application that will calculate the Gross Earnings, FICA tax (Medicare and Social Security taxes), Federal Tax Withheld, and Net Amount of the payroll check for each employee of a company.

INPUT

The application must be able to collect the following required information for each client:

1)Hourly Wage (required, numeric, > 0)

2)Hours Worked (required, numeric, > 0)

3)Withholding Exemptions (required, numeric, >=0 and <= 10)

4)Marital Status (Single or Married)

OUTPUT

These are the outputs:

1)For each employee there must be an area that displays the following :

a.Gross Earnings

b.FICA Tax (display both Medicare and Social Security taxes)

c.Federal Income Tax Withheld

d.Net Earnings

PROCESS

For each employee (HINT: Until NO MORE EMPLOYEES) calculate the following for their individual payroll for the week.

Gross earnings: Hourly wage times hours worked (with time and a half after 40 hours).

FICA Tax: sum of 6.2% of the total wages (Social Security tax) and 1.45% of total wages (Medicare tax)

Federal Income Tax Withheld: Subtract $55.77 from the gross earnings for each withholding exemption giving the Adjusted Gross Income. Based on the Adjusted Gross Income, use the following parameters to determine the federal tax based on marital status:

Adjusted Gross Income

Income Tax Withheld (S)

Income Tax Withheld (M)

$0 to $50

$0

$0

$51 to $500

10% over $51

5% over $51

$501 to $2,500

$45.00 + 15% of amount over $500.00

$22.50 + 10% of amount over $500.00

$2,501 to $5,000

$345.00 + 20% of amount over $2,500

$225.50 + 15% of amount over $2,500

Over $5,000

$845.00 + 25% of amount over $5,000

$600.50 + 20% of amount over $5,000

Net Earnings: Gross Earnings FICA taxes Federal Income Tax Withheld

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