Question: MIT 5 5 1 ASSIGNMENT - 2 0 2 3 Develop a JAVA application to satisfy the following requirement: Employees are paid on hourly basis

MIT 551 ASSIGNMENT -2023
Develop a JAVA application to satisfy the following requirement: Employees are paid on hourly basis monthly. Employees who work for hours not exceeding 40 hours are considered to have worked 'Regular' hours whiles those who work in excess of 40 hours are considered to have worked 'Overtime'. Regular hours worked are paid at 50GHC per hour for senior staff and junior staff hourly rate are paid at 70% of the regular hourly rate of senior staff. The Overtime hours worked are paid to senior staff at a rate of one and half times their regular hourly rate whiles junior staff also receives one and quarter times their regular hourly rate as their overtime hourly rate. Each employee pays 15%,1%, and 3% of their Gross Pay as Income Tax, National Health Insurance Levy, and District Tax respectively. Employees with more than three children pay 1GHC per child in excess of three towards GetFund. Using the table below, your application should;
a. Collect the data shown in the table below from an input stream object and perform the following computations:
I. Calculate the Gross Pay for each employee
II. Calculate the total deductions (i.e. taxes, etc) paid by all employees
III. Calculate the Net Pay of each employee
IV. Calculate the total Net Pay paid to employees
V. Calculate the Average Net Pay
b. Display the outputs from above computations to an output stream object
NOTE: John, Rose, Cynthia, George, Emmanuel, Stephen, and Alfred are senior staff whiles the remaining are junior staff.
\table[[,C23,*,&s],,,,,,,,,],[,A,B,C,0,E,F,G,H,1,J,K,\bar (L)],[1,,,,,,,,,,,,],[2,,,JB PABBI AND,SONS CONSUL,LTANTS LIMI,ITED,,Income Tax Rate |N|,0.15,,,],[3,,,,,,,,District Tax Rate (O),0.03,,,],[4,,,STAFF SALARI,IES F0R MARCH,H 2008,,,NHIL rate (%),0.01,,,],[5,,,,,,,,,,,,],[6,,Staff,Hours Worked,No. of Children,Gross Pay,Income Tax,NHIL.,District Tax,GetFUND,Net Pay,,],[7,,John,65,3,,,,,,,,],[8,,Rose,48,0,,,,,,,,],[9,,Eku,22,6,,,,,,,,],[10,,Peter,32,5,,,,,,,,],[11,,Ibrahim,80,10,,,,,,,,],[12,,Isaac,12,1,,,,,,,,],[13,,Cynthia,45,2,,,,,,,,],[14,,James,25,2,,,,,,,,],[15,,Kwaku,33,3,,,,,,,,],[16,,Geroge,67,2,,,,,,,,],[17,,Michael,23,6,,,,,,,,],[18,,Emmanuel,45,8,,,,,,,,],[19,,Stephen,56,5,,,,,,,,],[20,,Alfred,34,3,,,,,,,,],[21,,Charles,81,6,,,,,,,,],[22,,,,,,,,,,,,],[23,,Total,,,,,,,,,,],[24,,,,,,,,,,,,],[25,,,,,,,,,,,,]]
MIT 5 5 1 ASSIGNMENT - 2 0 2 3 Develop a JAVA

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