Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please fill in the blanks Princeton Computer Company's payroll accountant has submitted her resignation and will be leaving the company in two weeks. The company

please fill in the blanks
image text in transcribed
image text in transcribed
image text in transcribed
Princeton Computer Company's payroll accountant has submitted her resignation and will be leaving the company in two weeks. The company must decide if it will hire a replacement or outsource the payroll position. (Click the icon to view the information.) Read the requirements Requirement 1. Prepare a differential analysis to determine if Princeton Computer Company should replace the employee or outsource the payroll function. (Complete only the necessary answer boxes. Do not enter a "0" for any zero balances. Assume a 52 -week year. For any item andlor total where the cost of outsourcing payroll exceeds the cost of replacing the employee, enter difference with a minus sign or parentheses.) More info The current employee earns a salary of $42,000. Medical insurance, employer payroll taxes, and contributions to the pension plan for this position cost $7,000. The company has already invested $33,000 in payroll software. Required annual updates to remain in compliance with all state and federal laws are $400. The company also spends $1,100 per year in professional development for this position to ensure the employee stays up-to-date with payroll changes. Princeton Computer Company pays its employees weekly. Payroll Professionals will process the company's weekly payroll for $900 per week. This fee also includes preparing all necessary payroll tax returns, reports, and W-2s. Requirements 1. Prepare a differential analysis to determine if Princeton Computer Company should replace the employee or outsource the payroll function. 2. What other factors should Princeton Computer Company consider in making this decision

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

Internal Revenue Service Status Of GAO Financial Audit And Related Financial Management Recommendations

Authors: Government Accountability Office

1st Edition

1492351571, 978-1492351573

More Books

Students also viewed these Accounting questions

Question

8. Explain the contact hypothesis.

Answered: 1 week ago

Question

7. Identify four antecedents that influence intercultural contact.

Answered: 1 week ago