National Storage employs 88 workers with a gross monthly payroll of $135,000. Fringe benefits are 8.8% of payroll for a profit sharing plan and $9.21 per employee for life insurance. What percent of payroll is the total cost of fringe benefits? Round your answer to the neareat tenth of a percent.

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter9: Payroll Accounting: Employer Taxes And Reports
Section: Chapter Questions
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National Storage employs 88 workers with a gross monthly payroll of $135,000. Fringe benefits are 8.8% of payroll for a profit sharing plan and $9.21 per employee for life insurance. What percent of payroll is the total cost of fringe benefits? Round your answer to the neareat tenth of a percent.

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