A company has a total of 200 employees. The company's payroll is audited, and the following information
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Question:
A company has a total of 200 employees. The company's payroll is audited, and the following information is obtained:
- Total salaries and wages paid during the year: $10,000,000
- Total payroll taxes paid during the year: $1,000,000
- Total benefits paid during the year: $1,500,000
- Average salary of employees: $50,000
- Average payroll tax per employee: $5,000
- Average benefits per employee: $7,500
Calculate the following:
a) Total number of employees receiving benefits
b) Total cost of salaries and wages
c) Total cost of benefits as a percentage of total salaries and wages
Show all calculations and express the answer to the nearest dollar or percentage point as applicable.
Related Book For
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
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