Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Camp-around Canada has 24 employees who are paid on a monthly basis. For the most recentmonth, gross earnings were $68,000. The income tax withholdings are15%

Camp-around Canada has 24 employees who are paid on a monthly basis. For the most recentmonth, gross earnings were $68,000. The income tax withholdings are15% of gross earnings. Canada Pension Plan deductions are4.95% of gross earnings and Employment Insurance deductions are1.88% of gross earnings. All employees have$15 per month withheld for charitable contributions. Ignore the basic Canada Pension Plan exemption.

CamparoundCanada's total payroll cost for the month is_______.

(Choose the right one )

A.$72,620.40

B.$72,637.60

C.$73,155.76

D.$69,780.24

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

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

Modern Advanced Accounting in Canada

Authors: Hilton Murray, Herauf Darrell

8th edition

1259087557, 1057317623, 978-1259087554

More Books

Students also viewed these Accounting questions

Question

discuss what an intervention is in relation to work psychology;

Answered: 1 week ago