Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sophie Gowna, 47 years old, works for an Ontario company with a Bi-weekly pay cycle. She earns $19 per hour and receives over-time paid at

Sophie Gowna, 47 years old, works for an Ontario company with a Bi-weekly pay cycle. She earns $19 per hour and receives over-time paid at time and a half for any hours worked over 44 in a week. Sophie receives $50 cash cell phone allowance per month for working from home and 6% vacation retained and pay later. She also receives $325 cash reimbursement of business travel expenses through payroll in this pay cycle. During this Bi-weekly pay cycle, Sophie worked 92 hours. The company pays $35 gym membership fees per month to the Fit Club for Sophie. The company made $400 one-time tuition payment to the City College for her non-work-related course in this pay period. Sophie pays $25.00 per month in union dues and contributes 8% of her regular hours wage to a Registered Retirement Savings Plan each pay cycle. What is Sophie's Pensionable Earnings for this pay cycle?

  1. $ 2,550.23

  2. $ 2,309.31

  3. $ 1,929.08

  4. $ 2,202.15

  5. $ 1,825.23

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

Cost Accounting A Managerial Emphasis

Authors: Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan

14th Global Edition

978-0273753872, 0273753878

More Books

Students also viewed these Accounting questions

Question

What areas of knowledge do I have?

Answered: 1 week ago