Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Given the information below, what is the total cost of the employee (including labor burden) - Assistant Project Manager - Makes $65,000 per year -

image text in transcribed
Given the information below, what is the total cost of the employee (including labor burden) - Assistant Project Manager - Makes $65,000 per year - Gets a $2000 Christmas bonus - Gets $500/ mo truck allowance - Medicare tax is 1.45% of entire wage - Social Security tax is 6.2% of first $128,700 of wages - No SUTA - (FUTA) Company can take the full 5.4% credit against the FUTA liability - Company's compensation insurance rate is $2.04 per $100 in wages - Company's general liability insurance rate for office personnel is 0.70% of wages - Company pays $150 /month to health insurance with $250 deducted from employee's paycheck - Company matches employee's contributions to a 401(k) plan at a rate of $0.50 per $1.00 contributed by the employee on the first 6% of employees' wages (including allowances) - 50% match up to 6% of wages for 401(k) plan $84,215 $73.415 $81.245 $92,215

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

Are your goals SMART?

Answered: 1 week ago