Question
Big Game Inc, is a manufacturer of hunting supplies. The following is a summary of the companys annual payroll related costs: Wages and salaries expense
Big Game Inc, is a manufacturer of hunting supplies. The following is a summary of the companys annual payroll related costs:
Wages and salaries expense (of which $2,200,000 was withheld from emplyees pay and forwarded directly to tax autorities= $7,200,00
Payroll taxes=$580,000
Workers compensation premiums=$250,000
Group Health Insurance premiums=$725,000
Contributions to employees' pension plan= $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) Express total payroll related costs as a percentage of total wages and salaries expense.
D) Express total payroll related costs as a percentage of employees take-home pay.
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