Determine the gross pay and the net pay for each

Assignment Help Accounting Basics
Reference no: EM132682376

Problem - Calculate payroll - Donohue Professional Services has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee:

 

Consultant

Computer Programmer

Administrator

Regular earnings rate

$2,800 per week

$30 per hour

$42 per hour

Overtime earnings rate

Not applicable

1.5 times hourly rate

2 times hourly rate

Number of withholding allowances

3

2

1

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 pay period.

Reference no: EM132682376

Questions Cloud

Discuss about the pathophysiology of your chosen topic : In this project, you will complete a clinical case study analysis, research review, and oral presentation about the pathophysiology of your chosen topic.
Consist of two components-humoral and cellular : Immune systems consist of two components-humoral and cellular. Describe cellular and humoral immune responses.
How can the kanban system reduce waste : How can the Kanban system reduce waste within a hospital?
Was the dish used for comfort and religiously : Pick an authentic New Mexican dish. Research the history of the dish, including the creation, adaptations, uses (celebrations). Make sure to research the.
Determine the gross pay and the net pay for each : The Medicare tax rate was 1.5%, and one withholding allowance is $70. Determine the gross pay and the net pay for each
Why developing a culture of inclusion is necessary : -Describe why developing a culture of inclusion is necessary for a company to remain competitive in a global economy.
What are the intended benefits of scientific management : What are the intended benefits of scientific management and why are the benefits not always achieved?
Perception of the risks associated with the covid-19 virus : Post your comments regarding your perception of the risks associated with the COVID-19 virus
What clinical trials have been performed : What potential bioterror agent is covered by this countermeasure? Where in development is the drug or vaccine? What clinical trials have been performed?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd