Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Major LTD is a company that produces household goods in various departments. It needs to assess whether the hourly recovery tariff has been calculated properly

Major LTD is a company that produces household goods in various departments. It needs to assess whether the hourly recovery tariff has been calculated properly

The following information is provided for Martina who is an employee of Major Ltd:

She works from Monday-Friday (8 hours a day for 5 days). The rate per hour is this company is R75. Holiday bonus equals to 10% of yearly gross salary. The employer makes the following contributions:

Pension fund = 1000 per week

Medical aid = 400 per week

Other contributions = 5% of yearly gross salary

Holiday leave is 3 weeks annually. The company is closed for 10 public holidays and idle time is 5%

Required: Calculate the hourly recovery tariff. Assume that there are 52 weeks in a year.

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

Ship Finance Credit Expansion And The Boom Bust Cycle

Authors: Peter Stokes

2nd Edition

1859781055, 9781859781050

More Books

Students also viewed these Finance questions