Sometimes, companies choose to make adjustments to salaries or discretionary employee benefits. In best case scenarios, compensationprofessionals have successfully bargained for an increase in budget to fund adjustments. In other cases, adjustments are made within theexisting budget as is the case here. Making changes influence pay mixes when resources from one benefit are reallocated to increasing thefunding of others. For this scenario, compensation professionals are making calculations based on the current level of funding for thecompensation program.Employers' Hourly Costs for Full- and Part-Time Wages and Discretionary BenefitsFull-Time (5)Part-Time (5)10.461.46WageTotal discretionary benefitsInsurancePaid time-offRetirement and savingsSupplemental pay16.347.752.732.391.421.210.610.390.270.19For a workforce of 1,700 full-time employees who work 40 hours per weeks and 850 part-time employees who work 22 hours per week, theweekly total compensation is $ Round your response to the nearest hundredths place.The company has decided not to contribute to a retirement and savings plan for part-time employees, so it will save $ on a weekly basis.Round your response to the nearest hundredths placeIf the company eliminates paid time-off benefits for part-time employees, and increases paid time-off benefits for full-time workers by $0.50,the total weekly compensation for the entire workforce will be $ Round your response to the nearest hundredths place

Here, full-time cost per hour is given for each component and part-time cost per hour is given for…

Answered: For a workforce of 1,700 full-time…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

See similar textbooks

Similar questions

Sometimes, companies choose to make adjustments to salaries or discretionary employee benefits. In best case scenarios, compensation professionals have successfully bargained for an increase in budget to fund adjustments. In other cases, adjustments are made within the existing budget as is the case here. Making changes influence pay mixes when resources from one benefit are reallocated to increasing the funding of others. For this scenario, compensation professionals are making calculations based on the current level of funding for the compensation program. Employers' Hourly Costs for Full- and Part-Time Wages and Discretionary Benefits Full-Time (5) Part-Time (5) 10.46 1.46 0.61 0.39 0.27 0.19 Wage Total discretionary benefits Insurance Paid time-off Retirement and savings Supplemental pay 16.34 7.75 2.73 2.39 142 1.21 For a workforce of 1,700 full-time employees who work 40 hours per weeks and 850 part-time employees who work 22 hours per week, the weekly total compensation is $.…
I draw 5 cards from a deck (replacing each cardimmediately after it is drawn). I receive $4 for each heartthat is drawn. Find the mean and variance of my total payoff.
Solve the problem where the amount of wages ( after subtracting withholding allowances) is over $551 but not over $ 1,767 so the amount of income tax to withhold is $ 39.70 plus 12% of excess over $ 551. Use the percentage method of income tax calculation to complete the payroll roster
Under which perspective of the balanced scorecard would classify cash flows?
you are an owner of a small bakery shop and you have two employees which are the part-time baker who assists the owner in producing products and In-store staff which is required to work for 8 hours a day. Your proposed salary for your part-time baker is 300Php 4-5 hours a day, and for your in-store staff is 416Php 8 hours per day. What is your reasoning or how will you justify this proposed salary for your two employees?
David works for Wool garments company as a production manager. He often participates in the annual budgeting process of the company. David is requested by the Chief Executive Officer Linda to submit his department’s budgeted production for the following year. Linda reviews and typically adds 10 percent to the production budget provide by David. The new amount becomes David’s target production level for the following year. David can receive a cash bonus if his department exceeds the projected production level. Explain any incentive that David might have to be dishonest with Linda about the production level he thinks the department can achieve.
Why do some firms choose to use a two-variance analysis instead of a three-variance or a fourvariance analysis of the total overhead cost variance for the period?
In Benefit/cost ratio analysis, if the salvage value is used to recover the first cost, it is being considered as: Select one: a. negative cost b. cost c. benefit d. disbenefit =================== Ali takes out a loan at 10 percent compounded annually for 7 years. At the end of this period, he pays off the loan at a value of $23,384.61. What amount did he borrow? Select one: a. $12,000.00 b. $15,000.00 c. $14,000.00 d. $13,000.00 ============= While considering the engineering economy concepts, the most important tense almost all exercises deal with is the annual worth. Select one: True False Ans all
Mr. X is a factory worker. He works in a factory from 8 am to 5 pm. He gets interval from 1 pm to 2 pm for rest and meal. He has been working in this factory for more than two decades. Now he wants to take voluntary retirement from his service. After termination of service, he will get gratuity, allowances and any other compensation. Now, write the answer of following questions. What is gratuity? How will gratuity be counted to pay Mr. X during his retirement? Write with example. ii.
Estimating Costs in an Uncertain Environment Many companies face increasingly unpredictable costs and revenues as the recession affects demand for products and the costs of materials and labor for these products. Revenues and costs have fluctuated significantly in recent years for such cost elements as fuel, labor, commodities (agricultural commodities, metals, etc.), interest, and rent expense, among others. Dealing with the increased fluctuations requires cost estimation methods that are more sophisticated and more frequently updated. The result is that companies are including in their cost estimation additional independent variables. Moreover, these companies are updating their estimation models more frequently. For example, Southwest Airlines updates its revenue prediction model on a daily basis. Required Consider Southwest Airlines and the following six key areas of cost for the company. Which of these costs do you think the airline must update most frequently? Flight crew. Fuel…
The owners of a small manufacturing concern have hired a vice president to run the company with the expectation that he will buy the company after five years. Compensation of the new vice president is a flat salary plus 75% of the first $150,000 profit, and then 10% of profit over $150,000. Purchase price for the company is set at 4.5 times earnings (profit), computed as average annual profitability over the next five years. a.Plot the annual compensation of the vice president as a function of annual profit. b.Assume the company will be worth $10 million in five years. Plot the profit of buying the company as a function of annual profit. c.Does this contract align the incentives of the new vice president with the profitability goals of the owners?
Suppose you are the human resource director of a certain organization, and the company president has asked you look at ways to cut costs in the area of benefits. You are however to avoid sacrificing the quality of benefits that your organization currently offers. You know that cutting costs will require some compromises, but you are determined that you will not subtract anything from the present benefits package without also adding something. You are determined that employees will not feel cheated. How would you approach the task that your superior assigned to you? Where will you make cuts?

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS