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Compute the net pay for this period

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Reference no: EM132846003

Question - Hydrogen Co. has the following payroll information for the period ending June 30:

Gross salaries and wages $100,000

CPP rate 4.95%

EI rate 1.83%

Employee income tax deducted $20,000

Company pension deducted 5% of gross salaries and wages

Union dues deducted $800

Assume 100% of the gross salaries and wages are subject to CPP and EI. Therefore, compute the NET pay for this period?

A. $68,220.

B. $66,690.

C. $67,420

D. $72,420.

Reference no: EM132846003

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