Given the following information, determine the burdened hourly wage rate for a carpenter. Assume the carpenters...
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Given the following information, determine the burdened hourly wage rate for a carpenter. Assume the carpenters take full advantage of the retirement benefit. Wage rate-$23.00 per hour Hours worked-45 hours per week for 30 weeks, and 40 hours per week for 20 weeks Vacation, holidays, and sick leave-Two weeks at 40 hours per week Overtime-Time-and-a-half for any hours over 40 per week Gas allowance-$150 per month Annual bonus-$300 Social Security-6.2 percent on the first $127,200 of wages Medicare-1.45 percent of all wages FUTA-0.6 percent on the first $7,000 of wages SUTA-5.8 percent on the first $10,000 of wages Worker's compensation insurance-$12.25 per $100.00 of wages General liability insurance-0.55 percent of wages Health insurance (company's portion)-$450 per month per employee Retirement-$0.50 per $1.00 contributed by the employee on 6 percent of the employee's wages Given the following information, determine the burdened hourly wage rate for a carpenter. Assume the carpenters take full advantage of the retirement benefit. Wage rate-$23.00 per hour Hours worked-45 hours per week for 30 weeks, and 40 hours per week for 20 weeks Vacation, holidays, and sick leave-Two weeks at 40 hours per week Overtime-Time-and-a-half for any hours over 40 per week Gas allowance-$150 per month Annual bonus-$300 Social Security-6.2 percent on the first $127,200 of wages Medicare-1.45 percent of all wages FUTA-0.6 percent on the first $7,000 of wages SUTA-5.8 percent on the first $10,000 of wages Worker's compensation insurance-$12.25 per $100.00 of wages General liability insurance-0.55 percent of wages Health insurance (company's portion)-$450 per month per employee Retirement-$0.50 per $1.00 contributed by the employee on 6 percent of the employee's wages
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Answer rating: 100% (QA)
To calculate the burdened hourly wage rate for the carpenter we need to account for all the additional costs above the base wage that the employer inc... View the full answer
Related Book For
Managerial Accounting Creating Value in a Dynamic Business Environment
ISBN: 978-0078110917
9th edition
Authors: Ronald W. Hilton
Posted Date:
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