Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Determine the effective hourly cost, the total annual cost, and the labor burden markup for the Superintendent with the following wage and benefit information.
Determine the effective hourly cost, the total annual cost, and the labor burden markup for the Superintendent with the following wage and benefit information. Wages 52.00 $/Hour Total hours worked during year 2,640 Hours Reimbursements 50 S/Month Overtime Rate 1.75 Times Bonus 330 S/quarter Allowances 155 S/month Social Security Rate 7.20 % Social Security Limit 155,000 $ Medicare Rate 1.65 %6 FUTA Rate 8.00 % FUTA Limits 9,500 $ FUTA Waiver (credit) 5.4 % SUTA Rate 6.75 % SUTA Limit 13,500 $ Worker's Comp. Rate 0.52 $/$100 General Liability Rate 0.60 401(k) Matching 0.75 401(k) Limit Health Insurance Union Dues Conference Training HSA DCA FSA LFSA Paid Vacation 7.00 450 % $ per $ % of wages S/Month Another $300 is deducted from employee's paycheck S/month $/6 months 200 2500 1,300 $/year 400 $/month 350 $/month 300 $/month 150 S/month 160 hours Assumptions: Assume SUTA was paid on time Assume employee has 5 tax dependents Assume employee will make the best use of all health/benefit accounts. Assume employee will take the full advantage of the retirement benefit I
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started