Your company hired a new pipe-fitter for the upcoming year. The company owner would like for you to determine the hourly wage for this employee for upcoming jobs. What is the wage fully burdened wage hourly wage rate for the employee based upon the information below? • Base Wage Rate = $32.52/hour • 4 weeks of vacation, sick, and personal leave • Social Security = 6.2% on the first $132,900 • Medicare = 1.45% •FUTA = 0.6% on the first $7,000 SUTA 3.4% on the first $22,000 • Workers' Compensation = $9.77 per $100 • General Liability = 0.78% • Employer Paid Health Insurance = $600 per month • Retirement = 50% match on 7% of wages
Your company hired a new pipe-fitter for the upcoming year. The company owner would like for you to determine the hourly wage for this employee for upcoming jobs. What is the wage fully burdened wage hourly wage rate for the employee based upon the information below? • Base Wage Rate = $32.52/hour • 4 weeks of vacation, sick, and personal leave • Social Security = 6.2% on the first $132,900 • Medicare = 1.45% •FUTA = 0.6% on the first $7,000 SUTA 3.4% on the first $22,000 • Workers' Compensation = $9.77 per $100 • General Liability = 0.78% • Employer Paid Health Insurance = $600 per month • Retirement = 50% match on 7% of wages
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter13: Accounting For Payroll And Payroll Taxes
Section: Chapter Questions
Problem 1CP
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