Big Game, Inc., is a manufacturer of hunting supplies. The following is a summary of...
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Accounting
| Big Game, 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) | $ | 7,080,000 |
| Payroll taxes | 580,000 | |
| Workers' compensation premiums | 250,000 | |
| Group health insurance premiums | 725,000 | |
| Contributions to employees' pension plan | 450,000 | |
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| a. | Compute Big Games total payroll-related costs for the year. |
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| b. | Compute the net amount of cash actually paid to employees (their take-home pay). |
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| c-1. | Express total payroll-related costs as a percentage of total wages and salaries expense. |
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| c-2. | Express total payroll-related costs as a percentage of employees' take-home pay. |
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