[The Following Information Applies to the Questions Displayed Below

question 87

Multiple Choice

[The following information applies to the questions displayed below.]
Rockland Corporation has 22 employees and incurs total wages and salaries expense of $800,000 per year.The following table shows various payroll amounts as a percentage of this annual wage and salaries expense:
In addition,Rockland provides group health insurance for its entire workforce.The cost of this insurance is $450 per month per employee.
-The company's annual payroll-related expenses amount to approximately:

• A)$1,137,200.
• B)$1,076,000.
• C)$980,000.
• D)$800,000.

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Definitions:

Long-Term Liabilities

Refers to debts or obligations that are due in over a year's time, including loans, bonds payable, or lease obligations.

Cash Dividends

A distribution of profits by a corporation to its shareholders in the form of cash.

Operating Activities

Transactions and other events related to the day-to-day function of a business, typically involving revenue and expense activities directly affecting cash flow.

Investments In Securities

Financial assets such as stocks, bonds, or mutual funds purchased with the intent of generating income or appreciating in value.