Determine the gross pay and the net pay for each of the

Assignment Help Accounting Basics
Reference no: EM13966239

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 earning rate

2610 per week

$30 per hour

$44 per hour

Overtime earning rate

NA

1.5 time 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 by adding $340.44 to 28% of the difference between the employee's amount subject to withholding and $1,687.00. 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. Assume the normal working hours in a week are 40 hours. If required, round your answers to two decimal places.

 

Consultant

Computer programmer

Administrator

Gross pay

$

$

$

Net pay

$

$

$

Reference no: EM13966239

Questions Cloud

Provide three examples of how a company : Provide three examples of how a company's risks can influence its planning,contmlling, and decision-making activities.
What does the term status quo refer to : What does the term "status quo" refer to? If a policy advocate does not correctly identify the cause of the problem we cannot predict which of the following?
Analyze the items and quantities of inventory : Analyze the items and quantities of inventory that must be kept on-site for the poultry farms with capacity of 1000 birds per month? basically inventory management is required.
Lernout & hauspie was the world''s leading : Lernout & Hauspie was the world's leading provider of speech and language technology products, solutions, and services to businesses and individuals worldwide. Both Microsoft and Intel invested millions in L&H.
Determine the gross pay and the net pay for each of the : Donohue Professional Services has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Determine the gross pay and the net pay for each of the three employees for..
Poultry farm setup : Explain within 500 words stating reasons what location should be selected in United states for poultry farm setup?
Describe the psychological motivational approach : Describe the psychological motivational approach to curriculum development you will use to shape the curriculum design, providing a rationale for your selected approach that is consistent with the core instructional goals of the planned curriculum
Similarities between inductive and deductive reasoning : Review the differences and core similarities between inductive and deductive reasoning. How does one form support the other?
Sampling distribution of the sample mean : 1. Let the population be given by {1, 2, 3}. Let p(x) = 1/3 for x = 1, 2, 3. Take samples of size 3 with replacement. (a) Calculate μ and σ2. (b) Obtain the sampling distribution of the sample mean.

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