orchid ltd contributes to a defined contribution superannuation plan for its employees. Contributions have been established as 10% of wages and salaries, including bonuses, actually paid during the year. Contributions based on budgeted payroll costs were set at $100,000 per month. There is annual net settlement of superannuation contributions payable or refundable based on actual audited payroll information. The net settlement occurs on 30 September for the preceding year ended 30 June.