The payroll related information for Smart Packers is provided below. The company has a total payroll for the month of January of $100,000 for its 30 employees. Use the information provided to answer the following questions. (Assume that none of the employees earn more than $7,000 in January.) Federal and state income tax withheld $ 20,000 Health insurance premiums paid by employer $ 10,000 Contribution to retirement plan paid by employer $ 15,000 FICA tax rate (Social Security and Medicare) 7.65 % Federal and state unemployment tax rate 6.20 % Knowledge Check 01 What is the amount of Salaries Payable for the month?

25000 is the amount of Salaries Payable for the month

Solution:

Given,

Total payroll for the month of January of $100,000 for its 30 employees.

Federal and state income tax withheld = $ 20,000

Health insurance premiums paid by employer = $ 10,000

Contribution to retirement plan paid by employer = $ 15,000

Now , To calculate the amount of Salaries Payable for the month :

Health insurance premiums paid by employer              10000

Contribution to retirement plan paid by employer         15000

Amount of fringe benefits for the month                       25000  

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the answer is true.  i do believe this is the answer because of the amount of wrecks people get into each year.  if you double this with avoiding those so said wrecks, that would make you a "skilled" driver.