Employee 1 - Receptionist Bookkeeper Employee 2-Project Manager Wages Bonus Allowances Social Security Medicare FUTA SUTA Workers Comp. General Liability 401(K) Health Insurance-employer funded 33.00/hour $500/year None 6.2% limit 128,700 1.45% 0.60% limit $7,000 2% limit $12,000 $0.85 per $100 of wages 0.65% of wages 50% match to 6% of wages $545/month 145,000/year $2,000/year $200/month 6.2% limit 128,700 1.45% 0.60% limit $7,000 2% limit $12,000 $0.85 per $100 of wages 0.65% of wages 50% match to 6% of wages $545/month Both employees take full advantage of 401K Assume employEE taxes are the same rates and thresholds as employer taxes Employee 1 worked 2,200 hours last year and was also paid 80 hours vacation a) What is the annual cost to the company for each employee? b) What is the average hourly cost to the company for each employee? c) What is the burden mark up for each employee? d) What does each employee take home annually? e) Where is the cost for each employee charged in the accounting ledgers? Multi Choice: A: Cost of Construction, B: Overhead, C:Job cost ledger, D: A&C Employee 1 - Receptionist Bookkeeper Employee 2-Project Manager Wages Bonus Allowances Social Security Medicare FUTA SUTA Workers Comp. General Liability 401(K) Health Insurance-employer funded 33.00/hour $500/year None 6.2% limit 128,700 1.45% 0.60% limit $7,000 2% limit $12,000 $0.85 per $100 of wages 0.65% of wages 50% match to 6% of wages $545/month 145,000/year $2,000/year $200/month 6.2% limit 128,700 1.45% 0.60% limit $7,000 2% limit $12,000 $0.85 per $100 of wages 0.65% of wages 50% match to 6% of wages $545/month Both employees take full advantage of 401K Assume employEE taxes are the same rates and thresholds as employer taxes Employee 1 worked 2,200 hours last year and was also paid 80 hours vacation a) What is the annual cost to the company for each employee? b) What is the average hourly cost to the company for each employee? c) What is the burden mark up for each employee? d) What does each employee take home annually? e) Where is the cost for each employee charged in the accounting ledgers? Multi Choice: A: Cost of Construction, B: Overhead, C:Job cost ledger, D: A&C