Compute the total average hourly cost of an Ironworker to a contractor, whose base wage is $40.50/hr. Assume the work is in a subsistence area and the daily subsistence rate is $22.50. The Ironworker works the second shift on a two-shift project where a project labor contract establishes a "work 7 pay 8 hour" pay basis for straight time. The Ironworker works 10 hours a day for 6 days in a week. The contract calls for time and a half overtime on Monday-Friday, and double time for Saturday. The following rates will apply 7.5% for FICA and 5.0% for unemployment insurance. Insurance: Rates: Workman's Compensation = $8.50/$100 = $1.95/$100 = $1.30/$100 Rates: Public Liability Property Damage Fringe Benefits: Pension = $1.15 Health & Welfare = $2.10 Vacation = $1.05 Misc (promo) = = $0.18 -n/a- Additional Insurance: Factors: -n/a- $25,000/$50,000 =1.47 $25,000/$100,000 =1.23