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What is the outstanding payment

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Question - Onion plc operates a defined contribution plan for employees and have agreed to contribute 10% of employees' total remuneration into the plan each year. Total salaries for the year ended 31 March 2021 amount to £15 million. The company also made bonus payments of £2 million during the year. Onion had already paid contributions of £0.5 million during the year. What is the outstanding payment in relation to contributions for the year ended 31 March 2021?

A. 1.2m

B. 1.0m

C. 1.7m

D. 0.5m

Reference no: EM132979500

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