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Caring Souls Canada has 24 employees who are paid on a monthly basis. For the most recent month, gross earnings were $68,000. The income tax
Caring Souls Canada has 24 employees who are paid on a monthly basis. For the most recent month, gross earnings were $68,000. The income tax withholdings are 15% of gross earnings. Canada Pension Plan deductions are 5.25% of gross earnings and Employment Insurance deductions are 1.58% of gross earnings. All employees have $15 per month withheld for charitable contributions. Ignore the basic Canada Pension Plan exemption.
Calculate the following
1. The employees' total net pay
2. Caring Souls Canada's total payroll cost for the month
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