Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

1).Employee Earnings Salaries for the month (gross) $Answer Overtime Pay $2,500 Total Gross Pay $Answer Deductions and Net PayWithheld Statutory Deductions $2,200 Charitable Contributions $Answer

1).Employee Earnings

Salaries for the month (gross) $Answer

Overtime Pay $2,500

Total Gross Pay $Answer

Deductions and Net PayWithheld Statutory Deductions $2,200

Charitable Contributions $Answer

Medical Insurance $150

Total Deductions $2,508

Net Pay $6,292

2).Employee Hours Worked Hourly Rate Income Tax Canada Pension Plan Employment Insurance

H. Farnsworth 46 $13.00 $59.80 $26.27 $11.24

P. Fry 47 $17.00 $79.90 $36.22 $15.02

Employee Gross Pay Net Pay

H. Farnsworth$Answer $Answer

P. Fry$Answer $Answer

3).An employer has calculated the following amounts for an employee during the last week of January 2015.

Gross Wages$1,400.00

Income Taxes$322.00

Canada Pension Plan Contributions$66.00

Employment Insurance Contributions$26.00

a) Calculate the employee's net pay.

Net Pay = $Answer

b)Assuming the employer's contribution is 100% for Canada Pension Plan and 140% for Employment Insurance, what is the employer's total expense?

Total Employer Expense = $Answer

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Decision Making and Motivating Performance

Authors: Srikant M. Datar, Madhav V. Rajan

1st edition

978-0137024872

Students also viewed these Accounting questions