Given the following information, determine the burdened hourly wage rate for an equipment operator. Assume the equipment operators take full advantage of the retirement benefit. Wage rate-S36.25 per hour Hours worked-50 hours per week for 40 weeks and 40 hours per week for nine weeks Vacation, holidays, and sick leave-three weeks at 40 hours per week Overtime-time-and-a-half for any hours over 40 per week Gas allowance-$100 per month Annual bonus-$750 • Social security-6.2 percent on the first S113,700 of wages • Medicare-1.45 percent of all wages • FUTA-0.6 percent on the first $7,000 of wages SUTA-2.5 percent on the first $22,000 of wages Worker's compensation insurance-S9.27 per S100.00 of wages General liability insurance-0.65 percent of wages Health insurance (company's portion)-S385 per month per employee • Retirement-S0.75 per S1.00 contributed by the employee on 6 percent of the employee's wages

Given the following information, determine the burdened hourly wage rate for an equipment operator. Assume the equipment operators take full advantage of the retirement benefit. Wage rate-S36.25 per hour Hours worked-50 hours per week for 40 weeks and 40 hours per week for nine weeks Vacation, holidays, and sick leave-three weeks at 40 hours per week Overtime-time-and-a-half for any hours over 40 per week Gas allowance-$100 per month Annual bonus-$750 • Social security-6.2 percent on the first S113,700 of wages • Medicare-1.45 percent of all wages • FUTA-0.6 percent on the first $7,000 of wages SUTA-2.5 percent on the first $22,000 of wages Worker's compensation insurance-S9.27 per S100.00 of wages General liability insurance-0.65 percent of wages Health insurance (company's portion)-S385 per month per employee • Retirement-S0.75 per S1.00 contributed by the employee on 6 percent of the employee's wages

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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