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EXHIBIT 2 Table for Percentage Method of Withholding WEEKLY Payroll Period Wage Bracket Withholding Table (a) SINGLE person (including head of household)- If the amount of wages (after subtracting withholding allowances) The amount of income tax IS: Not over $43 Over- But not over- to withhold is: of excess over_ $43 $222 $767 $1,796 $3,700 $7,992 $8,025 $43 $222 . . $0.00 plus 10% -$767 . . $17.90 plus 15% $222 $767-$1,796 . . $99.65 plus 25% McGrath wage bracket $1,796 $3,700 $7,992 $8,025 -$3,700 . . $356.90 plus 28% -$7,992 . . $890.02 plus 33% -$8,025 . . $2,306.38 plus 35% $2,317.93 plus 39.6%Calculate Payroll Breakin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Consultant Administrator Regular earnings rate Overtime earnings rate Number of withholding allowances $4,000 per week Not applicable 2 Computer Programmer $60 per hour 1.5 times hourly rate $50 per hour 2 times hourly rate 2 For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. For the current pay period, the computer programmer worked 50 hours and the administrator worked 48 hours. The federal income tax withheld for all three employees, who are single, can be determined from the wage bracket withholding table in Exhibit 2. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and one withholding allowance is $75 Determine the gross pay and the net pay for each of the three employees for the current pay period. If required, round your answers to two decimal places Consultant Computer Programmer Administrator Gross pay Net pay

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CONSULTANT $4000 PER WEEK NA COMPUTER PROGRAMMER $60 PER HOUR 90 $ PER HOUR ADMINISTRATOR $50 PER HOUR $100 PER HOUR REGULAR43 to 222 222 to 767 767 to 1796 1796-3700 3700-7992 179 545 1029 1904 4292 10% 17.9 15% 99.65 25% 356.9 28% 890.02 3396 2306

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