Calculate the hourly cost for an employee who works an average of 48 hours per week. The employees base wage is $21.00 per hour and time-and-a-half is paid for over 40 hours per week. The company gives the employee a $50 per month tool allowance. The social security tax rate is 6.2% on the first $84,900 of wages, the Medicare tax rate is 1.45%, the FUTA rate is 0.8% on the first $7,000 of wages, and the companys SUTA rate is 1.5% of the first $22,000 of wages. The workers compensation insurance rate is 6.0%. The company pays $150 per month towards the employees health insurance.