Question: Can you help me with this case study? Thank you! Total Cost of Employment Calculate the total cost of two employees, one non-exempt and one
Can you help me with this case study? Thank you!
Total Cost of Employment
Calculate the total cost of two employees, one non-exempt and one exempt. You are likely to be responsible for hiring and budgeting for a new employee fairly early in your management careertake this seriously and do the appropriate research. This information will be used again
First calculate the total cost for an employee that makes $10 an hour. This employee works 35 hours a week for 50 weeks (two weeks unpaid personal time). 10 pay-periods out of the year, the employee works an additional 15 hours (50 hours total, assume the job is in Indiana). This person is entitled to a 50% discount on one meal per day; assume the employee uses the discount of the days (assume 5 day work weeks) worked at an average of $5.75 per meal. Be sure to calculate proper employment taxes. (ignore withholding amounts, they are not a direct cost for the business)
Next calculate the total cost for an employee that make $32,000 annually. This person gets two weeks paid vacation. This person receives one free meal a day; assume this person takes this every day at the same average of $5.75 per meal (assume 5 work days for every week worked). The company also provides health, dental, and vision insurance in a combined package that costs the company approx. $1,800 per month of which the employee pays for 20% of the premium. Be sure to calculate proper payroll taxes and other employee related expenses (ignore withholding).
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
