Slovak Plumbing Company pays its support staff weekly and its plumbers on a semimonthly basis. The following support staff payroll information is available for the week ended May 12, 2018:

The plumbers? salaries are based on their experience in the field, as well as the number of years they have worked for the company. All three plumbers have been with the company more than two years. The annual salary of these employees is as follows:

Employee Name ............................... Annual Salary for 2018Branislav Dolina ................................... $80,700Henrietta Koleno .................................... 62,500Aida Krneta ............................................. 44,120

Instructions

a. Prepare a payroll register for the May 12, 2018, weekly payroll for the support staff . Calculate the CPP and EI deductions using the formulas provided in Appendix 10A. Use the tables in Illustration 10A.5 to determine federal and provincial income taxes.

b. Calculate the CPP and EI deductions for each of the plumbers for their May 15, 2018, semi-monthly payroll.

c. In which semi-monthly pay period will each of the plumbers reach their maximum CPP and EI payments for 2018?

Why are there separate payroll deduction tables for determining income tax deductions for weekly, semi-monthly, and monthly pay periods?

Illustration 10A.5

Transcribed Image Text:

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