Determine the annual cost, average hourly cost, and burden markup of an hourly employee given the infor- mation in Table 8-1. Assume the employee takes full advantage of the 401(k) benefit. The employee's health insurance is paid for entirely by the employer. Last year the employee worked 2,104 hours and was paid for an additional 80 hours of vacation. The employee was paid for at least 40 hours each week and is to be paid time and a half on any work over 40 hours per week. Table 8-1 Wage Information for Problem 5 Item Cost $22.00/hr $500 Wages Bonus Allowances Social Security Medicare FUTA SUTA Workers' Comp. General Liability 401(k) Health Insurance None 6.2% of wages to $128,700 1.45% of wages 0.6% of wages to $7,000 2.0% of wages to $20,000 $0.85 per $100 of wages 0.65% of wages 50% match up to 6% of wages $200/month