Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Stunning Visits offers tours of rock quarries. On August 15, 2019, Stunning Visits prepared their semi-monthly payroll for their employees. The CPP and El

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Stunning Visits offers tours of rock quarries. On August 15, 2019, Stunning Visits prepared their semi-monthly payroll for their employees. The CPP and El deduction are provided for you, and the appropriate income tax rate is 18%. The employer pays half of the health care premium, and the employees pay the other half. Vacation pay is 4%. Overtime pay is paid at 1.5 times any hours over 80 worked during the period. Assume the employer contributes 100% towards the pension plan and 140% towards employment insurance. Payroll information for August 15, 2019 is listed below. Employee Total Hours Hourly Rate Health Care J. Lam K. Xia 82.00 15.10 18.00 83.00 13.90 20.00 O. Cortana 83.00 17.40 22.00 Do not enter dollar signs or commas in the input boxes. Round your answers to 2 decimal places. a) Calculate gross and net pay for each employee: Payroll Register Deductions Employee Gross Income Tax CPP El Health Care Total Deductions Net Pay J. Lam 56.48 20.30 K. Xia 52.46 19.03 O. Cortana 67.55 23.82 Total b) Calculate the employer contributions: Emplover Contributions

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_2

Step: 3

blur-text-image_3

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 for Managers

Authors: Eric Noreen, Peter Brewer, Ray Garrison

2nd edition

978-0077403485, 77403487, 73527130, 978-0073527130

More Books

Students also viewed these Accounting questions

Question

With PACs , all of the P waves look identical ? O True False

Answered: 1 week ago