Problem
Olson Bakers is determining the payroll amounts for the month ending June 30, 2022. Its employees earned a total of $5,000 in gross pay. Assume the following amounts:
|
Canada Pension Plan
|
$212.5
|
|
Employment Insurance
|
$87.5
|
|
Federal and Provincial Income Tax
|
$1,250
|
|
Health Insurance (employer contributes the same amount)
|
$175
|
|
Union Dues
|
$200
|
Calculate the net pay to be paid to the employees.