53) Given the info below, calculate the loaded hourly labor rate67 Project Mgr $80,000/yr38 2080 hours per year39 Proj Manager worked 40 hours/week for 50 weeksSocial security 6,2 % on first $106,800Medicare 1.45% of all wagesFUTA 8 % on first $700040414243SUTA 4.5% of first $18,00044 Workers Comp $7.25 per $100 of wagesGeneral Liability 75% of wages45Health insurance $300/moRetirement $.75 per $1 contributed by emploee on 6% of all wages-company gives 4.5%46474849+

Name: 53) Given the info below, calculate the loaded hourly labor rate67 Pr
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Description: 53) Given the info below, calculate the loaded hourly labor rate67 Project Mgr $80,000/yr38 2080 hours per year39 Proj Manager worked 40 hours/week for 50 weeksSocial security 6,2 % on first $106,800Medicare 1.45% of all wagesFUTA 8 % on first $7000

According to the given question, we are required to compute the loaded labor rate. Labor rate: The…

Business

Accounting

3) Given the info below, calculate the loaded hourly labor rate 6 3 0 1 2 3 4 45 Project Mgr $80,000/yr 2080 hours per year Proj Manager worked 40 hours/week for 50 weeks Social security 6,2 % on first $106,800 Medicare 1.45% of all wages FUTA 8% on first $7000 SUTA 4.5% of first $18,000 Workers Comp $7.25 per $100 of General Liability .75% of wages wages + 46 Health insurance $300/mo 47 Retirement $.75 per $1 contributed by emploee on 6% of all wages-company gives 4.5% 48 19

3) Given the info below, calculate the loaded hourly labor rate 6 3 0 1 2 3 4 45 Project Mgr $80,000/yr 2080 hours per year Proj Manager worked 40 hours/week for 50 weeks Social security 6,2 % on first $106,800 Medicare 1.45% of all wages FUTA 8% on first $7000 SUTA 4.5% of first $18,000 Workers Comp $7.25 per $100 of General Liability .75% of wages wages + 46 Health insurance $300/mo 47 Retirement $.75 per $1 contributed by emploee on 6% of all wages-company gives 4.5% 48 19

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Suppose you are the human resource manager for a cellular phone company with 700 employees. Top management has asked you to implement three additional fringe benefits that were negotiated with employee representatives and agreed upon by a majority of the employees. These include group term life insurance, a group legal services plan, and a wellness center. The life insurance is estimated to cost $390 per employee per quarter. The legal plan will cost $468 semiannually per employee. The company will contribute 40% to the life insurance premium and 75% to the cost of the legal services plan. The employees will pay the balance through payroll deductions from their biweekly paychecks. In addition, they will be charged 1 4 % of their gross earnings per paycheck for maintaining the wellness center. The company will pay the initial cost of $600,000 to build the center. This expense will be spread over 5 years. (a) What total amount should be deducted per paycheck for these new…
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