Q-1(35): (Show your work in Table) Determine the annual cost, average hourly cost, and burden markup of an hourly employee given the information in the table. Assume the employee takes full advantage of the 401(k) benefit. The employees health insurance is paid for entirely by the employer. Last year the employee worked 2,104 hours and was paid for an additional 80 hours of vacation. The employee was paid for at least 40 hours each week and is to be paid time and a half on any work over 40 hours per week.

Total utility cost for the past 12 months is $ 2,797.54. Determine the annual budget for office utilities using the data from the past 12 months, it is expected to increase by 8% per year due to inflation.

Determine the projected costs for utilities in year 5. The inflation rate has been determined to be 0.032 and the initial cost is $57.39.

Item Cost Wages Bonus Allowances Social Security Medicare FUTA SUTA Workers' Comp. General Liability 401(K) Health Insurance $22.00/hr $500 None 6.2% of wages to $128,700 1.45% of wages 0.6% of wages to $7,000 2.0% of wages to $20,000 $0.85 per $100 of wages 0.65% of wages 50% match up to 6% of wages $200/month