Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Stone Corporation has 25 employees and incurs total wages and salaries expense of $900,000 per year. The following table shows various payroll amounts as a
Stone Corporation has 25 employees and incurs total wages and salaries expense of $900,000 per year. The following table shows various payroll amounts as a percentage of this annual wage and salaries expense: In addition Stone provides group health insurance for its entire workforce. The cost of this insurance is $350 per month per employee 5% 15.3% Workers compensation insurance Social security and Medicare (employees' share and employer's share combined) Pension and other postretirement costs expense (paid by employer) Personal income taxes withheld Unemployment taxes expense 5X 10% 2x In addition, Stone provides group health insurance for its entire workforce. The cost of this insurance is $350 per month per employee Some of the payroll-related expenses incurred by Stone Corporation are mandated by law, rather than negotiated with employees. During the current year these mandated amounts increased Stone's payroll-related expenses by approximately Select one Da $ 68,850 6. $200,700 Oc. $131,850 Od $176,850 Stone Corporation has 25 employees and incurs total wages and salaries expense of $900,000 per year. The following table shows various payroll amounts as a percentage of this annual wage and salaries expense: In addition Stone provides group health insurance for its entire workforce. The cost of this insurance is $350 per month per employee 5% 15.3% Workers compensation insurance Social security and Medicare (employees' share and employer's share combined) Pension and other postretirement costs expense (paid by employer) Personal income taxes withheld Unemployment taxes expense 5X 10% 2x In addition, Stone provides group health insurance for its entire workforce. The cost of this insurance is $350 per month per employee Some of the payroll-related expenses incurred by Stone Corporation are mandated by law, rather than negotiated with employees. During the current year these mandated amounts increased Stone's payroll-related expenses by approximately Select one Da $ 68,850 6. $200,700 Oc. $131,850 Od $176,850
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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