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You have recently been hired as a controller for a company that employs 60 staff. Your new company is called Can Do contractors Inc. Can Do contractors Inc.'s previous controller left in a hurry. You see that the previous controller had access to the bank account and could sign company cheques with their own. They also possessed a company credit card as well as full access to the accounting software. One of your first tasks is to check the new Payroll software. To do this, you pull an employee payment record to check manually against the Payroll Software. If your calculation = the new Payroll software, you will have a level of confidence in the new system. You pull Bob's payroll information for the period: Bob earns $55,000 per year and is paid on a semi-monthly pay schedule. Bob enjoys the benefit of a company paid cell phone for personal use (cost is $150 per month) and receives 6% vacation pay on each payment. This pay cycle included 15 hours of approved overtime worked over the normal 40 -hour work week, and a reimbursement for travel expenses for $434.20. The employee contributes 5% of their regular wages to a Registered Retirement Savings Plan each pay cycle. REQUIRED: Calculate Bob's Gross Earnings. For this calculation, include Travel Expenses Reimbursements in Gross Earnings (you will note thot most Poyroll Software systems will exclude keimbursements from Gross Eornings as treot as a seporated line item). REQUIRED: Calculate Bob's CPP contribution. Bob'S PENSIONABLE EARNINGS AKA CPP Contributory EARNINGS [Templa]] Start Point: Gross Earnings Less Nontaxable Allowances Less Severance or Retirement Less Nontaxable Allowances - 5afety Allowance Less Safety Allowance Less Reimbursements Add Taxable Benefits Plus Employee Taxable Benefits Plus cell Phone Plus Car Allowance = Pensionable Earnings CPP contribution Pensionable Earnings CPP Contribution Rate (use 2022)

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