Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

CASE B - Payroll run on January 31, 2023, employee worked following hours: Mr. A Hours worked 165. Any hours over 162 is considered overtime.

CASE B - Payroll run on January 31, 2023, employee worked following hours: Mr. A Hours worked 165. Any hours over 162 is considered overtime. Mr. B Hours worked 90 hours. Any hours over 85 is considered overtime. Mr. C Hours worked 158. Any hours over 155 is considered overtime. Required: (Please do not consider/include vacation pay for this problem) (4) Please calculate over time hourly rate3 mark (5) Please calculate gross pay 3 mark (Hint: gross pay = (regular hours * regular pay) + (Over time hours * overtime pay) (6) Please calculate EI premium (EI rate is 1.63% in 2023)3 mark Hint: STEP 5 * 1.63% (7) Please calculate CPP premium (CPP rate is 5.95% in 2023)3 mark Hint: ((STEP 5 (3500/12)) * 5.95% (8) Please net pay. Hint: STEP 5 STEP 6 STEP 7

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

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

Forensic Accounting In Detecting Financial Frauds

Authors: Motilal Balram Bhavnani

1st Edition

979-8889950707

More Books

Students also viewed these Accounting questions

Question

305 mg of C6H12O6 in 55.2 mL of solution whats the molarity

Answered: 1 week ago