Assignment:
Mr. Kaye opened a jewelry store that made and sold high-end jewelry. The store hours are 9:00 am - 5:00 pm Monday through Friday and 9:00 am - noon on Saturdays. Employees include the following:
Store manager - Kerry, $80,000 salary;
Bookkeeper - Kelvin, $40,000 salary;
Clerks - Kassie, $12.00/hr. and Katherine, $15.00/hr.
Jeweler - O.K., $100,000 salary
Two seasonal employees earn $10.00/hr for four weeks in December and two weeks in February.
Employees get a 30-minute unpaid lunch break on days they work more than six hours.
Benefits for full-time employees include medical insurance, life insurance, Medicare and social security taxes (employer portion), are 22 of the employee's salary.
Using Excel, determine the monthly payroll and benefits costs for Kaye Jewelry Store for 2016.