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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 3
Use the combined wage bracket tables , Exhibits 9-3 and 9-4, for Exercises 16 and 17.
Sky High Crane Company employs 150 workers and has a gross payroll of $282,100 per week. Fringe benefits are 6 1 2% of gross payroll for sick days and holiday leave, 9.1% for health and hospital insurance, 4.6% for the retirement fund, and $10.70 per employee per week 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?
Sky High Crane Company employs 150 workers and has a gross payroll of $282,100 per week. Fringe benefits are 6 1 2% of gross payroll for sick days and holiday leave, 9.1% for health and hospital insurance, 4.6% for the retirement fund, and $10.70 per employee per week 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?
Explanation
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(a) The gross payroll at Crane for all e...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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