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For a workforce of 1,700 full-time employees who work 40 hours per weeks and 850 part-time employees who work 22 hours per week, the weekly total compensation is $ Round your response to the nearest hundredths place. The company has decided not to contribute to a retirement and savings plan for part-time employees, so it will save $on a weekly basis. Round your response to the nearest hundredths place If the company eliminates paid time-off benefits for part-time employees, and increases paid time-off benefits for full-time workers by $0.50, the total weekly compensation for the entire workforce will be $ Round your response to the nearest hundredths place

For a workforce of 1,700 full-time employees who work 40 hours per weeks and 850 part-time employees who work 22 hours per week, the weekly total compensation is $ Round your response to the nearest hundredths place. The company has decided not to contribute to a retirement and savings plan for part-time employees, so it will save $on a weekly basis. Round your response to the nearest hundredths place If the company eliminates paid time-off benefits for part-time employees, and increases paid time-off benefits for full-time workers by $0.50, the total weekly compensation for the entire workforce will be $ Round your response to the nearest hundredths place

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Sometimes, companies choose to make adjustments to salaries or discretionary employee benefits. In best case scenarios, compensation professionals have successfully bargained for an increase in budget to fund adjustments. In other cases, adjustments are made within the existing budget as is the case here. Making changes influence pay mixes when resources from one benefit are reallocated to increasing the funding of others. For this scenario, compensation professionals are making calculations based on the current level of funding for the compensation program. Employers' Hourly Costs for Full- and Part-Time Wages and Discretionary Benefits Full-Time (5) Part-Time (5) 10.46 1.46 Wage Total discretionary benefits Insurance Paid time-off Retirement and savings Supplemental pay 16.34 7.75 2.73 2.39 1.42 1.21 0.61 0.39 0.27 0.19 For a workforce of 1,700 full-time employees who work 40 hours per weeks and 850 part-time employees who work 22 hours per week, the weekly total compensation is $ Round your response to the nearest hundredths place. The company has decided not to contribute to a retirement and savings plan for part-time employees, so it will save $ on a weekly basis. Round your response to the nearest hundredths place If the company eliminates paid time-off benefits for part-time employees, and increases paid time-off benefits for full-time workers by $0.50, the total weekly compensation for the entire workforce will be $ Round your response to the nearest hundredths place
Transcribed Image Text:Sometimes, companies choose to make adjustments to salaries or discretionary employee benefits. In best case scenarios, compensation professionals have successfully bargained for an increase in budget to fund adjustments. In other cases, adjustments are made within the existing budget as is the case here. Making changes influence pay mixes when resources from one benefit are reallocated to increasing the funding of others. For this scenario, compensation professionals are making calculations based on the current level of funding for the compensation program. Employers' Hourly Costs for Full- and Part-Time Wages and Discretionary Benefits Full-Time (5) Part-Time (5) 10.46 1.46 Wage Total discretionary benefits Insurance Paid time-off Retirement and savings Supplemental pay 16.34 7.75 2.73 2.39 1.42 1.21 0.61 0.39 0.27 0.19 For a workforce of 1,700 full-time employees who work 40 hours per weeks and 850 part-time employees who work 22 hours per week, the weekly total compensation is $ Round your response to the nearest hundredths place. The company has decided not to contribute to a retirement and savings plan for part-time employees, so it will save $ on a weekly basis. Round your response to the nearest hundredths place If the company eliminates paid time-off benefits for part-time employees, and increases paid time-off benefits for full-time workers by $0.50, the total weekly compensation for the entire workforce will be $ Round your response to the nearest hundredths place
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