Assume these facts: 50 employees with an average hourly rate of $18, working 8 hours per day with ½ a day unpaid lunch. The employees average 75 hours of overtime per year. Holidays and vacations are fully paid. Insurance benefits paid by the employer equal $9.00 per hour. Please show and label your calculation. What is the annual payroll cost? What is the annual cost of benefits? What will a 6% increase in the hourly wage cost over one year? How will this increase affect the employer’s calculation of the cost of health insurance as part of the overall employee cost?

Answer rating: 100% (QA)

Ques No of Employee 50 Average Hourly Rati 18 WOAking Hours per day 08 Lunch pe... View the full answer