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 Paid vacation Bonus Allowances Reimbursement Social Security Rate Social Security Limit Medicare FUTA Rate FUTA Limits SUTA Rate SUTA Limit Worker's Comp. Rate General Liability Rate 401(k) Matching 401(k) Limit Health Insurance Union Dues Conference 65.00 $/hour 2,620 hrs 1.65 times 135 hrs $270 per month $115 per month upto $50 per month 6.50 % $157,000 1.45 % 7.4%. 5.4% credit is received if SUTA is paid on time. $9,500 6.75 % $13,500 $0.52/$100 0.60% $0.65 per $1.00 8.00% of wages $200/Month. Another $500 per month is deducted from employee's paycheck. $150/Month $3000 per year $1200 per year Training HSA FSA LFSA DCA $270/Month $320/Month $50/Month $125/Month Assumptions: Assume SUTA was paid on time Assume employee has 2 tax dependents Assume employee will make the best use of all health/benefit accounts. Assume employee will take the full advantage of retirement benefit.
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 Paid vacation Bonus Allowances Reimbursement Social Security Rate Social Security Limit Medicare FUTA Rate FUTA Limits SUTA Rate SUTA Limit Worker's Comp. Rate General Liability Rate 401(k) Matching 401(k) Limit Health Insurance Union Dues Conference 65.00 $/hour 2,620 hrs 1.65 times 135 hrs $270 per month $115 per month upto $50 per month 6.50 % $157,000 1.45 % 7.4%. 5.4% credit is received if SUTA is paid on time. $9,500 6.75 % $13,500 $0.52/$100 0.60% $0.65 per $1.00 8.00% of wages $200/Month. Another $500 per month is deducted from employee's paycheck. $150/Month $3000 per year $1200 per year Training HSA FSA LFSA DCA $270/Month $320/Month $50/Month $125/Month Assumptions: Assume SUTA was paid on time Assume employee has 2 tax dependents Assume employee will make the best use of all health/benefit accounts. Assume employee will take the full advantage of retirement benefit.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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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
Paid vacation
Bonus
Allowances
Reimbursement
Social Security Rate
Social Security Limit
Medicare
FUTA Rate
FUTA Limits
SUTA Rate
SUTA Limit
Worker's Comp. Rate
General Liability Rate
401(k) Matching
401(k) Limit
Health Insurance
Union Dues
Conference
65.00 $/hour
2,620 hrs
1.65 times
135 hrs
$270 per month
$115 per month
upto $50 per month
6.50 %
$157,000
1.45 %
7.4%. 5.4% credit is received if SUTA is paid on time.
$9,500
6.75 %
$13,500
$0.52/$100
0.60%
$0.65 per $1.00
8.00% of wages
$200/Month. Another $500 per month is deducted from employee's paycheck.
$150/Month
$3000 per year
$1200 per year
Training
HSA
FSA
LFSA
DCA
$270/Month
$320/Month
$50/Month
$125/Month
Assumptions:
Assume SUTA was paid on time
Assume employee has 2 tax dependents
Assume employee will make the best use of all health/benefit accounts.
Assume employee will take the full advantage of retirement benefit.
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