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Question;Magnum Plus, Inc., is a manufacturer of hunting supplies. The following is a summary of the company's annual payroll-related costs;Wages and salaries expense (of which $2,200,000 was withheld;from employees' pay and forwarded directly to tax authorities) $ 7,200,000;Payroll taxes 580,000;Workers' compensation premiums 250,000;Group health insurance premiums 725,000;Contributions to employees' pension plan 450,000;a. Compute Magnum's total payroll-related costs for the year.;b. Compute the net amount of cash actually paid to employees (their take-home pay);c. Express total payroll-related costs as a percentage of;i. total wages and salaries expense.;ii. employees' take-home pay.


Paper#74009 | Written in 18-Jul-2015

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