Answer:
(a) Cost to Score for an employee with $1,100.00 gross pay is $1,175.00.
(b) Cost to Score for an employee with $850.00 gross pay is $925.00.
(c) Total gross semimonthly pay for all six employees is $6,050.
Explanation:
The questions can be answered as follows:
a. Calculate the cost to Score for an employee with $1,100.00 gross pay in the first pay period in January.
This can be calculated as follows:
Cost to Score for an employee with $1,100.00 gross pay = Gross pay + Contribution to retirement fund = $1,100.00 + $75.00 = $1,175.00
b. Calculate the cost to Score for an employee with $850.00 gross pay in the first pay period in January.
This can be calculated as follows:
Cost to Score for an employee with $850.00 gross pay = Gross pay + Contribution to retirement fund = $850.00 + $75.00 = $925.00
c. Calculate the total gross semimonthly pay for all six employees.
This can be calculated as follows:
Cost to Score for 2 employee with $1,100.00 gross pay = $1,175.00 * 2 = $2,350
Cost to Score for 4 employee with $850.00 gross pay = $925.00 * 4 = $3,700
Total gross semimonthly pay for all six employees = Cost to Score for 2 employee with $1,100.00 gross pay + Cost to Score for 4 employee with $850.00 gross pay = $2,350 + $3,700 = $6,050
