PART III: ACCE SLO 4: Labor & equipment productivity factors (PC 3) Question 4 (10 points): During the year, the average carpenter works 50 hours per week for 30 weeks, 40 hours per week for 15 weeks, and 30 hours per week for 5 weeks. He or she is paid time-and-a-half for any hours over 40 hours per week and receives paid 10 days off per year in the form of vacation, sick leave, and holidays. The employee's health insurance is paid for entirely by the employer. Assuming that the employee takes full advantage of the 401(k) benefit, determine the annual cost by considering the annual wages from including bonus, SS tax, medicare tax, SUTA, FUTA, worker's compensation, liability insurance, health insurance, and retirement. Item Cost Your answer for each item per year Wages $12/hr Bonus $500/yr Social Security 6.2% of wages to $94200 Medicare 1.45% of wages FUTA 0.8% of wages to $7000 SUTA 1.85% of wages to $20000 Workers' compensation $7.85 per $100 of wages General Liability 0.65% of wages 401(k) 50% match up to 6% of wages Health insurance $200/month Totals aceeee