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Jungwirth Mechanical Has Five Payrolls for the Month

question 98

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Jungwirth Mechanical has five payrolls for the month. Each payroll had $9,000 salary, $1,800 income tax, $430 CPP, $165 EI, $300 Health Plan, and $6,305 net pay. What amount would the company send to the CRA as the remittance from this month?


Definitions:

Poisson Approximation

A statistical approximation method that applies the Poisson distribution to model the number of events in fixed intervals of time or space under certain conditions.

Probability

The statistical likelihood that a specific event will take place, calculated as a fraction or a percentage between 0% (never happening) and 100% (always happening).

Normal Model

A statistical model, also called the normal distribution, that describes how continuous data is distributed, shaped like a symmetric bell curve.

Standard Deviations

Measures that quantify the amount of variation or dispersion of a set of data values from the mean.

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