Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

MC 10 10 points O'Riley Company's payroll costs and fringe benefit expenses include the normal CPP and El contributions, retirement fund contributions of 10% of

MC 10 10 points O'Riley Company's payroll costs and fringe benefit expenses include the normal CPP and El contributions, retirement fund contributions of 10% of total earnings, and health insurance premiums of $140 per employee per month. Doherty $ 53,000 Fane 60,000 Kahan 58,700 Martin 40,500 Leung 25,500 Total $295,700 1. Given the above list of employees' projected 2018 annual salaries, calculate the employer's contribution of CPP, El, Retirement Fund, and Health Insurance made by O'Riley Company. (Round the final answers to 2 decimal places.) Click here to view the CPP Tables for 2018 Click here to view the El Tables for 2018 Answer is complete but not entirely correct. Retirement Fund CPP Contribution Contribution Health Insurance Contributions Doherty s 2.450.25 $ 858 22 $ 5,300.00 $1,680.00 Face 2.503 80 858.22 6,000.00 1,680 00 Kahan 2,503.80 858 22 5,870 00 1,680 00 Martin 2,227 50 858 22 4.850.00 1,680.00 Leung 2,593 80 858 22 7,550.00 1,680.00 Totals S 12.459 15 S 4.291.10 5 29.570 00 $ 8,400 00 image text in transcribed

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

Managerial Accounting

Authors: Ray Garrison, Eric Noreen and Peter Brewer

14th edition

978-007811100, 78111005, 978-0078111006

Students also viewed these Accounting questions