Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i only need help with the ones that arent answered Comparison of Compensation and Benefits Costs in Union and Nonunion Settings The management of nonunion

image text in transcribed
image text in transcribed
image text in transcribed
i only need help with the ones that arent answered
Comparison of Compensation and Benefits Costs in Union and Nonunion Settings The management of nonunion companies strives to maintain nonunion status to keep employment costs low and to maintain tighter control over the terms of employment. It is against the law for companies to Wertere with workers' attempts to unionice, however, companies that want to remain nonunion can adjust employment term proactively to minimize workers interest in unioning. As we dood in this chapter text, companies may choose to offer higher compensation than they would otherwise in the absence of a union theat. The following table shows hourly compensation costs for union and nourionettings Total TO compensation Wages and salaries Beneft costs Paid loave Supplemental Insurance Retirement Legaly pay and savings required benefits Cost per hour worked 2.60 1.87 7.06 5.48 4.26 2.58 1.42 300 1.71 3.16 Union Nonunion 50.21 38.04 28.94 26.09 21.27 11.95 The percent of total compensation spend for union settings to provide (Round your answers to the nearest tenth place) (a) Wages and salaries is 57.6 percent (b) Total benefits is 424 percent The percent of total compensation spend for nonunion settings to provide (Round your answers to the nearest fonth place) (c) Wages and salaries is 68.6 percent (d) Total benefits is 31.4 percent The compensation costs in union settings is higher than in nonunion settings for (Round your answers to the nearest hundredths place.) (a) Wages and salaries by 10.92 percent (b) Total benefits by 77.99 percent If nonunion companies pay 10 percent more, the amount they will pay to provide (Round your answers to the nearest hundredths place.) (c) paid leave benefit costs is $ 2.83 (d) supplemental pay benefit costs is $ 1.56 (e) insurance benefit costs is $ 3.39 (1) retirement and savings benefit costs is $ 1.88 (Note: Legally required benefits costs are largely outside the control of employers.) If costs were to increase by 5 percent in union settings, the new costs for (Round your answers to the nearest hundredths place.) (a) wages and salaries is $ The time If costs were to increase by 5 percent in union settings, the new costs for (Round your answers to the nearest hundredths place.) (a) wages and salaries is $ (b) total benefits is $ To maintain the 10 percent reduction in above situation, the amount non union companies spend on (Round your answers to the nearest hundredths place.) (c) wages and salaries is $ (d) total benefits is $

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

Step: 3

blur-text-image

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

Digital Finance Big Data Start-ups And The Future Of Financial Services

Authors: Perry Beaumont

1st Edition

0367146797, 978-0367146795

More Books

Students also viewed these Finance questions

Question

Develop an appropriate business mission statement? LO.1

Answered: 1 week ago