DEPARTMENT OF CONSTRUCTION MANAGEMENT&ENGINEERING CME 240: FINANCIAL AND COST CONCEPTS FOR CMs In class example # 1 uestion 1: A secretary for your company makes $10.50 per hour and last year was paid for 2,240 hours of work plus 100 per hour is paid on any work over 40 hours per week. In the past, the secretary has received a $500 Christmas bonus. Please answer the following questions. (20 points] hours of vacation. The secretary is expected to work the same number of hours this year. $13.75 Determine the average wages paid to the secretary during a one-year period. The secretary in (a) above is paid a $100 per month vehicle allowance to cover use of a personal vehicle for company business. Determine the Social Security Tax (6.2% of each em ployee's first $118,500 in wages) paid by the company on the secretary. If the costs of the secretary's burden are given below, determine the total annual cost of the company for this secretary a) b) c) Allowances- $100/month (as described in (b) .Social Security Tax the result of (b) Medicare Tax- $393.2/year SUTA-$180/year FUTA $56/year . Workers' compensation- $278/year . Liability insurance $ 114/year Health insurance - $1,200/year Retirement $672/year d) Determine the burden markup Total uoork hours /year S2ueekx Hohour week - 2 260 hours hairs over work 22-40+1 0-1080