EXERCISE 10.4 Employees- They Really Cost? Magnum Plus, Inc., is a manufacturer of hunting supplies. The following is a summary of the com- pany's annual payroll-related costs: s-What Do Wages and salaries expense (of which $2,200,000 was withheld from . employees' pay and forwarded directly to tax authorities) . . $7,200,000 580,000 250,000 725,000 Workers' c a. b. c. Compute Magnum's total payroll-related costs for the year. Compute the net amount of cash actually paid to employees (their take-home pay). Express total payroll-related costs as a percentage of (1) total wages and salaries expense, and (2) employees' take-home pay. (Round computations to the nearest 1 percent.)