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Magnum Plus, Inc., is a manufacturer of hunting supplies. The following is a summary of the company's annual payroll-related costs: Wages and salaries expense (of
Magnum Plus, Inc., is a manufacturer of hunting supplies. The following is a summary of the company's annual payroll-related costs: Wages and salaries expense (of which $2,200,000 was withheld from employees' pay and forwarded directly to tax authorities - $7,200,000 Payroll taxes -580,000 Workers' compensation premiums- 250,000 Group health insurance premiums- 725,000 Contributions to employees' pension plan - 450,000 Compute Magnum's total payroll-related costs for the year $
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