Question

With the following information please prepare the net pay summary and all supporting calculations for the following 2 employees.

Tommy Turco            Annual Pay $62,000 paid bi-weekly

                                    Net claim code 1 provincially and federally

                                    Union Dues $25.00 per pay

                                    Taxable benefits of $37.50 per pay

                                    Non-taxable allowance of $50 per pay

                                    RRSP deduction of 5% of earnings

Fay Fundy                   Weekly pay $890.

                                    Net claim code 2 provincially and federally

                                    Union Dues $15.25 per pay

                                    Taxable benefits of $28.50 per pay

                                    Taxable allowance of $20 per pay

                                    RPP deduction of 3% of earnings

Answer 1

Tommy turco

Net pay:

Particulars	Calculation	Amount
Bi weekly payment	$62,000 / 52weeks *2	$2,385
Union dues		($25)
Taxable benefits		$37.5
Nontaxable allowance		$50
RRSP deduction	(2,385+37.5) *5%	($121.125)
Net pay		$2,326.375

Fay Fundy

Net pay:

Particulars	Calculation	Amount
weekly payment		$890
Union dues		($15.25)
Taxable benefits		$28.50
taxable allowance		$20
RRSP deduction	(890+28.50+20) *3%	($28.155)
Net pay		$ 895

I hope this will help you.