Answered step by step
Verified Expert Solution
Link Copied!

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

image text in transcribed
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

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

More Books

Students also viewed these Accounting questions