Stone Corporation has 25 employees and incurs total wages and salaries expense of $9,000,000 per year. The following table shows various payroll amounts as a percentage of this annual wage and salaries expense:
In addition, Stone provides group health insurance for its entire workforce. The cost of this insurance is $550 per month for each employee.
-Employees' annual "take-home-pay," totals approximately:
A) $6,723,000.
B) $7,623,000.
C) $6,750,000.
D) $7,411,500.
Correct Answer:
Verified
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