Consultant $2310 per week, overtime-not applicable, 3 withholding allow.
Comp. Prog., $34 per hour, 1.5 times hourly rate for overtime, 2 withholdings
Admin. $46 per hour, 2 times hourly rate for overtime, 1 withholding
For the current pay period, the computer prog. worked 60 hours and the administrator worked 50 hours. The federal income tax withheld for all 3 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%, the Medicare tax rate was 1.5%, and one withholding allowance is $70. Determine gross pay and net pay, 40 hour work week.