Read the question carefully and give me right solution according to the question Determine the annual cost for the following employee. Last year the employee worked 2,300 hours and was paid for an additional 80 hours of vacation. The employee waspaid for at least 40 hours each week and is to be paid time and a half on any work over 40 hours per week. The employee's health insurance is paid for entirely by theemployer and it cost $200/month. The hourly wage is $20/hr. Social security is 6.2% on the first $128,700, Medicare is 1.45%, FUTA is 0.6% on the first $5,000, and SUTAis 3% on the first $8.000

Annual cost of the employee includes payment of taxes and payment to employees.

Answered: Determine the annual cost for the…

College Accounting (Book Only): A Career Approach

12th Edition

ISBN:9781305084087

Author:Cathy J. Scott

Publisher:Cathy J. Scott

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 1PA

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