Determine the annual cost average hourly cost and burden

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Determine the annual cost, average hourly cost, and burden markup of an hourly employee given the following information. Assume the employee takes full advantage of the 401(k) benefit. The employee's health insurance is paid for entirely by the employer. Last year the employee worked 2,104 hours and was paid for an additional 80 hours of vacation. The employee was paid for at least 40 hours each week and is to be paid time-and-a-half on any work over 40 hours per week. 

ITEM COST_______________

Wages ............. $12/hr

Bonus ............. $500

Allowances ........... None

Social Security ......... 6.2% of wages to $84,900

Medicare ........... 1.45% of wages

FUTA ............ 0.8% of wages to $7,000

SUTA ............ 2.0% of wages to $20,000

Workers' Comp. ........... $0.85 per $100 of wages

General Liability ........... 0.65% of wages

401(k) ............................ 50% match up to 6% of wages

Health Insurance ........... $200/month

Reference no: EM131136531

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