In your role as a compensation analyst, you have been assigned to calculate and compare the estimated costs of hiring full-time and part-time employees in anticipation of staffing a project. It will take 200,000 work hours to complete the project, and the project must be completed within a 5-work week period. The work week runs Monday through Friday, within the daily hours of 8 am to 4 pm. Full-time workers provide 40 hours of weekly service. Part-time workers provide 20 hours of weekly service. Assume that the hourly wage rate for full-time workers is $28, and the rate is $14 for part-time workers. Both categories of workers perform the same sets of tasks. Also, assume that costs of benefits equal the amounts displayed in Table 12-21. If the project is only staffed with full-time workers, The estimated total costs of wages and benefits would be $ If the project is only staffed with part-time workers, The estimated total costs of wages and benefits would be $ If only 15 full-time workers are assigned to the project, then employees will be needed to complete the project. employees will be needed to complete the project. part-time workers will be needed to complete the project. The total cost of wages and benefits for the 15 full-time workers and the part-time workers would be $ 1: Definition Employers' Hourly Costs for Full- and Part-Time Employee Benefits, December 2014 Benefit Full-Time ($) Part-Time ($) Total hourly benefits costs 11.80 3.37 Paid leave 2.77 0.45 Supplemental pay 1.41 0.22 Insurance 3.18 0.70 Retirement and savings 1.65 0.32 Legally required benefits 2.78 1.68 to