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Sagot :
Answer:
1. Consultant's earning
Gross pay $2,810
Net pay $1,669.25
2. Computer Programmer
Gross pay $2,520
Net pay $2,093
3. Administrator Income
Gross pay $3,565
Net pay $2,782.62
Explanation:
Calculation to Determine the gross pay and the net pay for each of the three employees for the current pay period
1. Calculation for Consultant Income gross pay and Net pay
Consultant's earning = $2,810
Based on the information given Consultant's GROSS PAY will be $2,810
Calculation to determine the Net pay using this formula
NET PAY = Gross pay - Withheld tax - Medicare tax - social security tax
Let plug in the formula
Where,
Withheld tax = $930
Social security tax = 6% of Total earning
Social security tax= $2,810 * 6%
Social security tax= $168.6
Medicare tax = 1.5% of total earning
Medicare tax= $2,810 * 1.5%
Medicare tax = $42.15
Let plug in the formula
NET PAY = $2,810 - $930 - $42.15 - $168.6
NET PAY= $1,669.25
Therefore Consultant Income gross pay is $2,810 and Net pay is $1,669.25
2. Calculation to determine Computer Programmer gross pay and Net pay
Calculation for GROSS PAY
Rate of earning = $36 per Hour
Working Hours = 55 Hours
Computer programmer Earning = $36 * 55
Computer programmer Earning= $1,980
Overtime hours = 55 - 40
Overtime hours= 15 hours
Overtime earning = 2 times of hourly rate = 15* $36
Overtime earning= $540
GROSS PAY = $1,980+$540
GROSS PAY=$2,520
Calculation to determine the NET PAY
Using this formula
Net Pay = Gross pay - Withheld tax - Medicare tax - Social security tax
Where,
Withheld tax = $238
Social security tax = ($1,980+$540) * 6%
Social security tax= $2,520*6%
Social security tax=$151.2
Medicare tax = 1.5% of total earning
Medicare tax= $2,520 * 1.5%
Medicare tax = $37.8
Let plug in the formula
NET PAY = $2,520 - $238 - $37.8 - $151.2
NET PAY =$2,093
Therefore Computer Programmer Gross pay is $2,520 and the Net pay is $2,093
3. Calculation for Administrator Income Gross pay and Net pay
Calculation for GROSS PAY
Rate of earning = $46 per Hour
Working Hours = 65 Hours
Administrator Earning = $46 * 65
Administrator Earning= $2,990
Overtime hours = 65 - 40
Overtime hours= 25 hours
Overtime earning = 1.5 times of hourly rate = 25 * ($46/2) ( half of the rate is taken)
Overtime earning =25*23
Overtime earning =$575
GROSS PAY = $2,990+$575
GROSS PAY =$3,565
Calculation to determine the NET PAY
Using this formula
Net Pay = Gross pay - Withheld tax - Medicare tax - Social security tax
Where,
Withheld tax = $515
Social security tax = ($2,990+$575) * 6%
Social security tax= $3,565*6%
Social security tax=$213.9
Medicare tax = 1.5% of total earning
Medicare tax = $3,565 * 1.5%
Medicare tax =$53.48
Let plug in the formula
NET PAY = $3,565 - $515 - $53.48 - $213.9
NET PAY= $2,782.62
Therefore Administrator Income is Gross pay $3,565 and the Net pay is $2,782.62
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