Reference no: EM131283504
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.
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