Student Solution

-->

"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

1 University

1 Course

2 Subjects

Download Solution

Related Solution

Module 7 Discussion...
The case study of work scheduling provides insights into the ways in which employees take advantage of specific situations. There can be unfair expectations by employees towards each other when there...

Module 7 Discussion 1
Module 7 Discussion 1

The case study of work scheduling provides insight

Week 2 workbook_1659...
Mod 7, Inv 1, #10 A) There are 2 Pi radians in a circle, so 1.5 radians would be 1.5/2??23.87% Of the circle. B) As we learned in part A this is the equivalent of 1.5 radians 180/?*1.5=85.94° Mod 7,...

Week 2 Workbook
Week 2 Workbook

Mod 7, Inv 1, #10 A) There are 2 Pi radians in a c

Discussion 1_1653889...
The readings and the podcast have reasonably changed my view regarding the black and the importance of the observation. Though the world has improved and developed in terms of technology, the thought...

Discussion 1
Discussion 1

The readings and the podcast have reasonably chang

Week 1Assignment

Week 1Assignment

Q Assignment 1 17th January 2022 Answer Sheet: Crunch the Numbers Week 1 Chapter 1 Butcher Enterprises has experienced substantial employee turnover among its office workers. During exit conducted a survey of local companies’ pay practices to confirm whether this concern is valid. Indeed, Butcher Enterprises’ average hourly pay rate for total compensation falls well below the market. The compensation survey showed an average hourly rate of $23 for total compensation. Of this amount, wages are $16 per hour and benefits are $7 per hour. In comparison, Butcher Enterprises spends an average hourly rate of $19 for total compensation. Of this amount, 70 percent is allocated for wages. Show your math 1-11. On an average hourly basis, how much does Butcher Enterprises spend on wages and benefits, respectively, in dollars? 1-12. How much does the company spend on wages and benefits over the course of one year for 100 office workers? Assume that each worker provides 2,080 hours of service each year. 1-13. How much additional money does the company need to match the market rates for this group of 100 employees?

View Related Questions

Solution Preview

View Complete Solution
1.$19*70% = $13.30 $19 - $13.30 = $5.70 Butcher Enterprises allocated $13.30 for wages and $5.70 for compensation. 2.100(2080) = 208,000 208,000* $13.30 = $2,766,400 100(2080) = 208000 208,000 * $5.70 = $1,185,600 For wages Butcher Enterprises spends $2,766,400 for 100 employees and on benefits they spend $1,185,600. By adding these two numbers $2,766,400 + $1,185,600 = $3,952,000 Butcher Enterprises totally spends $3,952,000 on employees annually. 3.100(2080) =208,000 208,000 * $16 = $3,328,000 100(2080) =208,000 208,000* $7 = $1,456,000 By adding these two values - Eq 1 $3,328,000+$1,456,000 = $4,784,000 Butcher Enterprise currently paying their employees –Eq 2 $2,766,400 + $1,185,600 = $3,952,000 By subtracting Eq 2 from Eq 1 $4,784,000 - $3,952,000 = $832,000 So, there is a need for Butcher Enterprise $832,000 more funds to equally match with the market rates for 100 workers.