Problema Solution
The last semimonthly payroll of Capital Construction was $77,763.00 of gross wages for 49 employees. The company pays 4.9% of payroll for vacations and sick leave and $62.19 per employee for health insurance. What percent of payroll is the total cost of fringe benefits
Answer provided by our tutors
The last semimonthly payroll of Capital Construction was $77,763.00 of gross wages for 49 employees. The company pays 4.9% of payroll for vacations and sick leave and $62.19 per employee for health insurance. What percent of payroll is the total cost of fringe benefits
Solution:
P = (4.9%*$77,763.00+62.19*49)/$77,763.00 = 8.82%
So 8.82% of payroll is the total cost of fringe benefits