An Employee Earns $55,000 Per Year and Is Paid on a Semi-Monthly

Essay

An employee earns $55,000 per year and is paid on a semi-monthly pay schedule. The employee enjoys the benefit of a company paid cell phone for personal use (cost is $150 per month) and receives 6% vacation pay on each payment. This pay cycle included 15 hours of approved overtime worked over the normal 40 hour work week and a reimbursement for travel expenses in the amount of $434.20. The employee contributes 5% of their regular wages to a Registered Retirement Savings Plan each pay cycle.
-Calculate the net pay for this employee. Be sure to list all of the deductions from the employee's pay for this pay cycle. (Note: if you do not have access to the PDOC the Federal Tax deduction = $384.75 and Provincial Tax deduction = $190.50)
Based on 2020 rates and T4032 tables.