Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac

Exercise 52

Calculate payroll
K. Mello Company 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 44 hours and the administrator worked 48 hours. Assume that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%.
Detemine the gross pay and the net pay for each of the three employees for the pay period.