Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Darlene has been earning $25/hr and regularly works 90 hours each monthly pay period. Due to the completion of union negotiations, on September 1st, she

Darlene has been earning $25/hr and regularly works 90 hours each monthly pay period. Due to the completion of union negotiations, on September 1st, she was awarded a $6/hr pay increase, effective from May 1st. Assume Darlene was being taxed @ 16% before her increase and will now be taxed @ 19%.

Note: Darlene will not max out CPP & EI deductions.

Required:

Calculate the gross retro-active payment owing and all applicable statutory deductions for this retro-active payment, assuming the employee will receive it on a separate cheque from her regular monthly earnings.

NOTE: Input answers below and demonstrate ALL calculations.

Retro-Active Pay Owing (Gross) = $

CPP = $

EI = $

Income Taxes = $

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

Management Accounting In A Dynamic Environment

Authors: Cheryl S McWatters, Jerold L Zimmerman

1st Edition

0415839025, 9780415839020

More Books

Students also viewed these Accounting questions

Question

5. Give some examples of hidden knowledge.

Answered: 1 week ago