Reference no: EM132918904

Bishop Pharmacy has three employees. The employees are paid (in total) $5 000 per week. Payroll deductions include the following:

Income tax: 2 000 per week,

Employee superannuation contributions: $500 per week, and

Employee union contributions: $100 per week.

Bishop Pharmacy also pays the following:

Payroll tax equal to 5% of gross salary,

Employee superannuation of $300 per week,

Employee health insurance of $150 per week.

Required

Problem (i) What is the total employee expense incurred each week by Bishop Pharmacy?

Problem (ii) What is the employees' gross pay each week? What is their net (take-home) pay each week?