ironworker works 10hr/day, 6 days/week. A base wage of OMR20.97/hr is paid for all straight-time work, 8 hr/day, 5 day/week. An overtime rate of one time and one half is paid for all hours over 8 hr/day, Saturday through Wednesday, and double time is paid for all Thursday work. The social security tax is 7.65% and the unemployment tax is 3% of actual wages. The rate for worker’s compensation insurance is OMR12.5 per OMR100 of base wage. Calculate the average hourly cost to hire the ironworker.
ironworker works 10hr/day, 6 days/week. A base wage of OMR20.97/hr is paid for all straight-time work, 8 hr/day, 5 day/week. An overtime rate of one time and one half is paid for all hours over 8 hr/day, Saturday through Wednesday, and double time is paid for all Thursday work. The social security tax is 7.65% and the unemployment tax is 3% of actual wages. The rate for worker’s compensation insurance is OMR12.5 per OMR100 of base wage. Calculate the average hourly cost to hire the ironworker.
Fundamentals Of Construction Estimating
4th Edition
ISBN:9781337399395
Author:Pratt, David J.
Publisher:Pratt, David J.
Chapter9: Pricing Construction Equipment
Section: Chapter Questions
Problem 7RQ
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An ironworker works 10hr/day, 6 days/week. A base wage of OMR20.97/hr is paid for all straight-time work, 8 hr/day, 5 day/week. An overtime rate of one time and one half is paid for all hours over 8 hr/day, Saturday through Wednesday, and double time is paid for all Thursday work. The social security tax is 7.65% and the unemployment tax is 3% of actual wages. The rate for worker’s compensation insurance is OMR12.5 per OMR100 of base wage. Calculate the average hourly cost to hire the ironworker.
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