North Beach Limousine Service employs 166 workers and has a gross payroll of $154,330 per week. Fringe benefits are 4 1/2% of gross payroll for sick days and maternity leave, 7.4% for health insurance, 3.1% for the retirement fund, and $26.70 per employee for a stock purchase plan. a. What is the total weekly cost of fringe benefits for the company? b. What percent of payroll does this represent? c. What is the company's annual cost of fringe benefits?

Advanced Engineering Mathematics
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ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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North Beach Limousine Service employs 166 workers and has a gross payroll of $154,330
per week. Fringe benefits are 4 1/2% of gross payroll for sick days and maternity leave, 7.4%
for health insurance, 3.1% for the retirement fund, and $26.70 per employee for a stock
purchase plan.
a. What is the total weekly cost of fringe benefits for the company?
b. What percent of payroll does this represent?
c. What is the company's annual cost of fringe benefits?
Transcribed Image Text:North Beach Limousine Service employs 166 workers and has a gross payroll of $154,330 per week. Fringe benefits are 4 1/2% of gross payroll for sick days and maternity leave, 7.4% for health insurance, 3.1% for the retirement fund, and $26.70 per employee for a stock purchase plan. a. What is the total weekly cost of fringe benefits for the company? b. What percent of payroll does this represent? c. What is the company's annual cost of fringe benefits?
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