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Big Game, Inc., is a manufacturer of hunting supplies. The following is a summary of the company's annual payroll-related costs. Wages and salaries expense
Big Game, Inc., is a manufacturer of hunting supplies. The following is a summary of the company's annual payroll-related costs. Wages and salaries expense (of which $2,200,000 was withheld from employees' pay and forwarded directly to tax authorities) Payroll taxes Workers' compensation premiums Group health insurance premiums Contributions to employees' pension plan $6,920,000 580,000 250,000 725,000 450,000 a. Compute Big Game's total payroll-related costs for the year. b. Compute the net amount of cash actually paid to employees (their take-home pay). c-1. Express total payroll-related costs as a percentage of total wages and salaries expense. c-2. Express total payroll-related costs as a percentage of employees' take-home pay. (Round your percentage answers to the nearest whole percent.)
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