Determine the effective hourly cost, the total annual cost, and the labor burden markup for the Superintendent with the following wage and benefit information. (50 points)

Wages 62.00 $/hour

Total hours worked during year 2,520 hrs

Overtime Rate 1.55 times

Paid vacation 135 hrs

Bonus $270 per quarter

Allowances $125 per month

Reimbursement upto $50 per month

Social Security Rate 6.20 %

Social Security Limit $147,000

Medicare 1.45 %

FUTA Rate 7.4%. 5.4% credit is received if SUTA is paid on time.

FUTA Limits $9,500

SUTA Rate 6.75 %

SUTA Limit $13,500

Worker's Comp. Rate $0.52 /$100

General Liability Rate 0.60 %

401(k) Matching $0.75 per $1.00

401(k) Limit 7.00% of wages

Health Insurance $ 250 / Month. Another $500 per month is deducted from employees paycheck.

Union Dues $ 150 / Month

Conference $3000 per year

Training $1200 per year

HSA $250 / Month

FSA $300/Month

LFSA $50 / Month

DCA $125/

Month Assumptions: Assume SUTA was paid on time Assume employee has 2 tax dependents Assume employee will make the best use of all health/benefit accounts. Assume employee will take the full advantage of retirement benefit.