Question: Labor Cost Determination The average hour Calculation The work requires crafts to work 6-10 hour-day six days per week. Working Hours Straight Time (ST)

Labor Cost Determination The average hour Calculation The work requires crafts to

Labor Cost Determination The average hour Calculation The work requires crafts to work 6-10 hour-day six days per week. Working Hours Straight Time (ST) Premium Time (PT) 5x7 = 35 5x8=40 Base Rate = $9.45/hr ST 5x3=15 5x3=15 0.5 x 3 x 5 = 7.5 66 x 9.45 = 623.7 PT 18.5 x 9.45 = 174.83 Gross Pay 798.53 1x7 = 7 1x8 8 1 x 8 8 1x3=3 1x3=3 Total = 60 Total = 66 1x3=3 Total = 18.5 Fringes H&W Pension Training 0.5 x 66 = $33 0.45 x 66 = 29.7 0.02 x 66 = 1.32 0.97 x 66 =64.02 FICA = 6.05% x 798.53 = 48.31 WC = 5,67 PL = 0.4 UEmp. = 4.5% x 798.53 = 35.93 Subsistence = 9.5 x 6=57 PD = 0.26 6.33 Per 100 Payroll Insurance = (6.33/100) X 623.7= 39.5/hr Total Cost 798.53 +64.02 + 39.50 + 48.31 +35.93 +57 =$ 1043.29 Average Cost =1043.29/60 = 17.40/hr. FICA is a U.S. federal payroll tax. It stands for the Federal Insurance Contributions Act and is deducted from each pay check.

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