ABC Company sponsors a contributory pension plan for which the company contributes 3% of salaries for exempt employees, and the employees have contributed a total $245,000.00 . If hourly employees have earned a total of $380,000.00, and salaried employees have earned a total of $420,000.00 this year, what is the pension expense for the year? A. $7,350.00 B. $11,400.00 C. $12,600.00 D. $ 19,950.00 E. $ 24,000.00
Question # 2
Devon is hired at a salary of $78,000.00 annually and begins work on Wednesday July 7th . If payroll is processed semi- monthly for periods ending on the 15th and the final day of the month, What are Devon's gross earnings for the pay period ending July 15th .?
Q2: Devon is hired at a salary of $78 000.00 annually and begins work on Wednesday July 7th . If payroll is processed semi- monthly for periods ending on the 15th and the final day of the month What are Devon's gross earnings for the pay period ending July 15th .?
Ans: Considering the assumption that the hours per Year 2080 and Hours per week is 8 hours.
Hourly rate of Employee 78000/2080 37.5
Employee is Semimonthly hence his pay period Salary would be 37.5 * 86.67 3250.125 Semimonthly Hours 2080 / 24 86.67
For the Pay period ending July 15 Employee has worked for 9 days 9 * 8 72 Hours His/Her Pay would be Hours Worked * Hourly Rate 72 * 37.5 2700
Question # 1 ABC Company sponsors a contributory pension plan for which the company contributes 3% of salaries for exempt employees, and the employees have contributed a total $245,000.00 . If hourly employees
Latest Answer : Q2: Devon is hired at a salary of $78,000.00 annually and begins work on Wednesday July 7th . If payroll is processed semi- monthly for periods ending on the 15th and the final day of the month, What are Devon's gross earnings for the pay period ending ...
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