Determine the effective hourly cost, the total annual cost, and the labor burden markup for the...

 

Transcribed Image Text:

Determine the effective hourly cost, the total annual cost, and the labor burden markup for the Superintendent with the following wage and benefit information. Wages Total hours worked during year Overtime Rate Unpaid vacation Bonus Allowances Reimbursement Social Security Rate Social Security wage cap Medicare Conference Training HSA 2760 hrs 1.65 120 hrs FSA LFSA DCA 47.00 $150 per quarter $350 per quarter FUTA Rate SUTA is paid on time. FUTA Limits SUTA Rate SUTA Limit Worker's Comp. Rate General Liability Rate 401(k) Matching 401(k) Limit Health Insurance (paid by employer) upto $250 per year 6.20 $145,000 1.65% 9.0%. 5.8% credit is received if $9,500 7.0% S/hour $14,000 $0.78/$100 0.75% $0.65 per $1.00 9.0% Another $550 is deducted from employee's paycheck. Union Dues $ 2500/Year S 300 / Month. $1500/year $250 every quarter $390/Month is contributed by employee. Employer contributes another $100 per month $350/Month $200/Month $400/Month Assumptions: Assume SUTA was not paid on time Assume employee has 3 tax dependents Assume employee make the best use of health accounts offered by the employer Assume employee will take the full advantage of retirement Determine the effective hourly cost, the total annual cost, and the labor burden markup for the Superintendent with the following wage and benefit information. Wages Total hours worked during year Overtime Rate Unpaid vacation Bonus Allowances Reimbursement Social Security Rate Social Security wage cap Medicare Conference Training HSA 2760 hrs 1.65 120 hrs FSA LFSA DCA 47.00 $150 per quarter $350 per quarter FUTA Rate SUTA is paid on time. FUTA Limits SUTA Rate SUTA Limit Worker's Comp. Rate General Liability Rate 401(k) Matching 401(k) Limit Health Insurance (paid by employer) upto $250 per year 6.20 $145,000 1.65% 9.0%. 5.8% credit is received if $9,500 7.0% S/hour $14,000 $0.78/$100 0.75% $0.65 per $1.00 9.0% Another $550 is deducted from employee's paycheck. Union Dues $ 2500/Year S 300 / Month. $1500/year $250 every quarter $390/Month is contributed by employee. Employer contributes another $100 per month $350/Month $200/Month $400/Month Assumptions: Assume SUTA was not paid on time Assume employee has 3 tax dependents Assume employee make the best use of health accounts offered by the employer Assume employee will take the full advantage of retirement

Answer rating: 100% (QA)

The effective hourly cost is 4700 165 4865 The total annual cost is 4865 x 2760 ... View the full answer