The payroll of Box Plot Inc. for January 2020 is as follows. Total payroll was $485,000. Pensionable (CPP) and insurable (EI) earnings were $365,000. Income taxes in the amount of $85,000 were withheld, as were $8,000 in union dues. The EI tax rate was 1.60% for employees and 2.24% for employers, and the CPP rate was 4.80% for employees and 4.80% for employers.

(a) Prepare the necessary journal entries to record the payroll if the salaries and wages paid and the employer payroll taxes are recorded separately. [3 Marks]

(b) Prepare the entries to record the payment of all required amounts to the Receiver General. [3 Marks]

(c) For every dollar of salaries and wages that Box Plot commits to pay, what is the actual payroll cost to the company? [1 Mark]