Annual labor assumptions for full-time employees Position Number Avg. Salary Base Salary Benefit Ralse Date Raise % Physician 12 $200,000 $2,400,000 25% Feb-02 4.5% Physician 11 8 $220,000 $1,760,000 25% Jul-02 4.5% Physician Assistant 1 $100,000 $100,000 25% Nov-02 4.5% Nurse Practitioner 1 $100,000 $100,000 25% Nov-02 4.5% Administrative Director 1 $100,000 $100,000 25% Feb-02 4.5% Office Staff 1 $50,000 $50,000 25% Feb-02 4.5% Office Staff 11 3 $30,000 $90,000 25% Jun-02 4.5% Note: All salaries and wages are paid twice monthly. The second payment is made on the last day of each month. Data is from Exhibit 1.4e, modified for givens. Mar-02 Total monthly salaries for full-tirhe employees Position Jan-02 Feb-02 Physician Physician 11 Physician Assistant Nurse Practitioner Administrative Director Office Staff Office Staff 11 Total Salaries Note: Calculations based on labor assumptions table above. Feb-02 Mar-02 Monthly benefit costs for full-time employees Position Jan-02 Physician Physician 11 Physician Assistant Nurse Practitioner Administrative Director Office Staff Office Staff 11 Total Benefits Jan-02 Feb-02 Mar-02 Position Physician Physician 11 Physician Assistant Nurse Practitioner Administrative Director Office Staff Office Staff 11 Total Benefits Feb-02 Mar-02 Salaries and benefits for full-time employees Position Jan-02 Physician Physician 11 Physician's Assistant Nurse Practitioner Administrative Director Office Staff Office Staff 11 Total (Salaries + Benefits) Note: Total of salaries and benefits tables above. Problem 10-21 O Labor budget: calculating the fixed labor budget. Instead of the raises stated in Exhibit 1.4e, assume that all benefits are 22 percent, and all raises are 5 percent, and calculate the fixed labor budget for January, February, and March. Assume that all the other assumptions in the exhibit remain the same. Explain why some salaries and benefits change from month to month and others do not. Annual labor assumptions for full-time employees Position Number Avg. Salary Base Salary Benefit Ralse Date Raise % Physician 12 $200,000 $2,400,000 25% Feb-02 4.5% Physician 11 8 $220,000 $1,760,000 25% Jul-02 4.5% Physician Assistant 1 $100,000 $100,000 25% Nov-02 4.5% Nurse Practitioner 1 $100,000 $100,000 25% Nov-02 4.5% Administrative Director 1 $100,000 $100,000 25% Feb-02 4.5% Office Staff 1 $50,000 $50,000 25% Feb-02 4.5% Office Staff 11 3 $30,000 $90,000 25% Jun-02 4.5% Note: All salaries and wages are paid twice monthly. The second payment is made on the last day of each month. Data is from Exhibit 1.4e, modified for givens. Mar-02 Total monthly salaries for full-tirhe employees Position Jan-02 Feb-02 Physician Physician 11 Physician Assistant Nurse Practitioner Administrative Director Office Staff Office Staff 11 Total Salaries Note: Calculations based on labor assumptions table above. Feb-02 Mar-02 Monthly benefit costs for full-time employees Position Jan-02 Physician Physician 11 Physician Assistant Nurse Practitioner Administrative Director Office Staff Office Staff 11 Total Benefits Jan-02 Feb-02 Mar-02 Position Physician Physician 11 Physician Assistant Nurse Practitioner Administrative Director Office Staff Office Staff 11 Total Benefits Feb-02 Mar-02 Salaries and benefits for full-time employees Position Jan-02 Physician Physician 11 Physician's Assistant Nurse Practitioner Administrative Director Office Staff Office Staff 11 Total (Salaries + Benefits) Note: Total of salaries and benefits tables above. Problem 10-21 O Labor budget: calculating the fixed labor budget. Instead of the raises stated in Exhibit 1.4e, assume that all benefits are 22 percent, and all raises are 5 percent, and calculate the fixed labor budget for January, February, and March. Assume that all the other assumptions in the exhibit remain the same. Explain why some salaries and benefits change from month to month and others do not