O'Riley Company's payroll costs and fringe benefit expenses include the normal CPP and El contributions, retirement fund contributions of 10% of total earnings, and health insurance premiums of $133 per employee per month. Doherty $ 53,300 Fane 54,200 Kahan 58,200 Martin 46,500 72,000 $284,200 Leung Total
O'Riley Company's payroll costs and fringe benefit expenses include the normal CPP and El contributions, retirement fund contributions of 10% of total earnings, and health insurance premiums of $133 per employee per month. Doherty $ 53,300 Fane 54,200 Kahan 58,200 Martin 46,500 72,000 $284,200 Leung Total
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:O'Riley Company's payroll costs and fringe benefit expenses include the normal CPP and El contributions, retirement fund
contributions of 10% of total earnings, and health insurance premiums of $133 per employee per month.
Doherty $ 53,300
54,200
58,200
Fane
Kahan
Martin
Leung
Total
46,500
72,000
$284,200
1. Given the above list of employees' projected 2021 annual salaries, calculate the employer's contribution of CPP, EI, Retirement
and Health Insurance made by O'Riley Company (Round the final answers to 2 decimal places.)
Click here to view the CPP Tables for 2021.
Click here to view the El Tables for 2021
Doherty
Fane
Kahan
Martin
Leung
Total s
CPP Contribution El Contribution
0.00
Retirement Fund
Contributions
0.00 S
0.00 S
co
Health
Insurance
0.00
D
Transcribed Image Text:2. Payroll costs and fringe benefits are what percentage of salaries? (Do not round intermediate calculations. Round the final answer
to 2 decimal places.)
Percentage of salaries
%6
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