Question

10.00 points Macier Company completed the salary and wage payroll for March 2014. The payroll provided the following details: Salaries and wages earned Employee income taxes withheld Canada Pension Plan Employment Insurance $ 237,000 50,900 2,850 820 Required: 1. Considering both employee and employer payroll taxes, use the preceding information to calculate the total labour cost for the company. TIP: Employer CPP equals employee CPP. Employer El equals 1.4 times employee El Total labor cost

Answer 1

1)

Remarks	Amount	Explanation
Salaries and wages paid	237,000
Employee withheld tax	50,900
CPP employee share	2,850
CPP Employer share	2,850	Equal to employee share given
Employee insurance share	820
Employer insurance share	1,148	1.4 times of employee share given
Total labour cost	295,568

Note - Only first question is solved as multiple questions are asked.