Reference no: EM133189162
Hemal Thomas is an employee in British Columbia. The net pay calculation is for the first bi-weekly pay of 2020. The employee is 32 years old and is entitled to 70 hours regular pay at $20/hour, 3 hours of over-time at time-and-a-half, and a $100 safety shoe allowance for this pay period. The employee also receives a monthly car allowance of $200 and the employer pays group life insurance of $35 a month. Vacation at 4% is accrued. The employee contributes $20 per pay to the United Way, $20 per month to the company social club, and $15 per pay for union dues. The employee's TD1 federal and provincial are code 2.
The gross earnings for the pay period are: (LO1, 2, 3) $1,400.00 b) $1,490.00 c) $1,582.31 d) $1,682.31
2. Pensionable earnings are: (LO1, 2, 3)
a) $1,490.00
b) $1,698.46
c) $1,598.46
d) $1,682.31
3. Taxable benefits are: (LO1, 2, 3)
a) Zero
b) $16.15
c) $17.50
d) $35.00
4. Insurable earnings are: (LO1, 2, 3)
a) $1,582.31
b) $1,698.46
c) $1,597.46
d) $1,682.31
5. The CPP contribution is: (LO1, 2, 3)
a) $83.27
b) $76.85
c) $79.13
d) $73.76
6. The EI premium is: (LO1, 2, 3)
a) $25.00
b) $26.27
c) $31.63
d) $29.75
7. The gross taxable earnings are: (LO1, 2, 3)
a) $1,490.00
b) $1,698.46
c) $1,598.46
d) $1,682.31
8. The net taxable earnings are: (LO1, 2, 3)
a) $1,583.46
b) $1,698.46
c) $1,598.46
d) $1,682.31
9. The federal income tax is: (LO1, 2, 3)
a) $147.20
b) $133.15
c) $137.20
d) $155.15
10. The British Columbia tax is: (LO1, 2, 3)
a) $51.40
b) $54.85
c) $53.70
d) $58.90
11. Total deductions are: (LO1, 2, 3)
a) $327.99
b) $337.06
c) $330.63
d) $347.99
12. Net pay for pay period is: (LO1, 2, 3)
a) $1,351.68
b) $1,352.32
c) $1,345.25
d) $1,323.55