An employer has calculated the following amounts for an employee during the last week of June 2020. Gross Wages $1,200.00 $276.00 Income Taxes Canada Pension Plan Contributions $59.47 Employment Insurance Contributions $18.96 Do not enter dollar signs or commas in the input boxes. Round your answer to 2 decimal places. Required a) Calculate the employee's net pay. Net Pay = $ b) Assuming the employer's contribution is 100% for Canada Pension Plan and 140% for Employment Insurance, what is the employer's total expense?
An employer has calculated the following amounts for an employee during the last week of June 2020. Gross Wages $1,200.00 $276.00 Income Taxes Canada Pension Plan Contributions $59.47 Employment Insurance Contributions $18.96 Do not enter dollar signs or commas in the input boxes. Round your answer to 2 decimal places. Required a) Calculate the employee's net pay. Net Pay = $ b) Assuming the employer's contribution is 100% for Canada Pension Plan and 140% for Employment Insurance, what is the employer's total expense?
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 16EA: An employee and employer cost-share pension plan contributions and health insurance premium...
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