Chapter 9.III, Problem 12RE

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8th Edition

Robert Brechner + 1 other

ISBN: 9781305585447

Textbook Problem

North Beach Limousine Service employs 166 workers and has a gross payroll of $154,330 per week. Fringe benefits are

a. What is the total weekly cost of fringe benefits for the company?

b. What percent of payroll does this represent? Round to the nearest tenth of a percent.

c. What is the company’s annual cost of fringe benefits?

**(a)**

To determine

**To calculate:** The total weekly cost of fringe benefits of North beach limousine service. They employ

Explanation

**Given Information:**

Total number of employers in North beach limousine service is

Fringe benefits are

insurance

**Formula used:**

Step1: When fringe benefit is percent of gross payroll then multiply that percent with gross payroll.

Step2: If fringe benefit is dollar amount per employee then multiply the dollar amount with the number of employees.

Step3: Total fringe benefit is addition of all the individual fringe benefit amounts.

**Calculation:**

Consider the gross payroll of North beach limousine service

Now, for sick days or maternity leave fringe benefits is

For health insurance fringe benefit is

**(b)**

To determine

**To calculate:** The percentage of payroll

**(c)**

To determine

**To calculate:** The cost of fringe benefit

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