Question
ABC Restaurant showed the following information relating to employees' salaries for the month of October 2020. Gross Wages $4,490.00 Income Taxes $673.50 Canada Pension Plan
ABC Restaurant showed the following information relating to employees' salaries for the month of October 2020.
Gross Wages $4,490.00
Income Taxes $673.50
Canada Pension Plan Contributions $220.41
Employment Insurance Contributions $70.94
As required, the company matches 100% of employees' CPP and 140% of employees' EI. Required
a) Calculate the company's total expense. Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. Gross Wages $Answer Canada Pension Plan - company's share $Answer Employment Insurance - company's share $Answer Total Expense $Answer
b) Calculate the employee's net pay. Use the negative sign for values that must be subtracted.
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