Question
Majic Corporation sells phone cases to public and private companies.They are located at 123 Locus Rd, Toronto, ON M1H 4S3.They employ 200 full time employees
Majic Corporation sells phone cases to public and private companies.They are located at 123 Locus Rd, Toronto, ON M1H 4S3.They employ 200 full time employees who work in sales, customer service and office support roles.
They have had an annual remuneration of over $1,000,000 for the past several years therefore their EHT rate is 1.95%.
Pay period #1 started December 27, 2020. All are paid on a bi-weekly basis. All benefits are processed each pay on an as enjoyed basis.
The first pay day for employees is Jan 13, 2021.
They have three staff in the Customer Service Department answering questions from clients and the general public. They all work Monday to Friday and do not work statutory holidays but are paid for them.
A)
Marijke has been with Majic for 5 years and is the Customer Service Supervisor.She earns $2000.00 bi-weekly working 35 hours per week. She does not work any overtime. She received a $300.00 one-time bonus pay period 6
Her employer provides her with the following:
Health and Dental - fully paid for by the employer at a monthly cost of $469.00
Group Term life insurance - 2x her annual salary at a cost of $0.69 per month per $1000 of coverage paid for by the employer
AD&D - $50,000.00 at a cost of $0.19 per month per $1000 of coverage paid for by the employer
She has the following personal deductions from her pay:
$5.00 per pay donation to the United Way
Federal and Provincial income tax - she is claiming maximum tax (Claim Code 0) plus an additional $10.00 per pay
Pay Period 6 Calculate the following:
Gross Pay
Gross taxable income
CPP contributions
EI premiums
Federal and Provincial taxes
Group term life insurance
AD & D
United Way
Net pay
Employer health tax
Pay Period 7 Calculate the following:
Gross Pay
Gross taxable income
CPP contributions
EI premiums
Federal and Provincial taxes426.25
Group term life insurance
AD & D
United Way
Net pay
Employer health tax
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started