Ridder Company's payroll taxes and fringe benefit expenses include unemployment taxes of (0.8 %) (federal) and (4.0

Question:

Ridder Company's payroll taxes and fringe benefit expenses include unemployment taxes of \(0.8 \%\) (federal) and \(4.0 \%\) (state) on the first \(\$ 7,000\) of each employee's salary, FICA taxes of \(7.5 \%\) on the first \(\$ 45,000\), retirement fund contributions of \(10 \%\) of total earnings, and health insurance premiums of \(\$ 180\) per employee per month. Given the following list of employee salaries, payroll taxes and fringe benefits constitute what percentage of salaries?

image text in transcribed

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting

ISBN: 9780256091939

5th Edition

Authors: Kermit D. Larson, Paul B. W. Miller

Question Posted: