POSSIBLEAKANS WERS TO THE NEAREST HUNDREDTH OR CENT r guidebook has already led

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POSSIBLEAKANS WERS TO THE NEAREST HUNDREDTH OR CENT r guidebook has already led you through much of this assignment. The instructions below recap the u followed in the related guidebook exercises. Use your work from those exercises and reference these Sestructions to be certain that you fully complete your project. Check your math formulas and calculations for accuracy. Note: There are a few items, printed in bold, in the project instructions that were not in the 1. Employee Budget Worksheet: This table demonstrates the cost of a new employee including recruiting and training costs, monthly recurring costs, and optional budgeting for other opportunities. a. Fill in your employees' names. Include each employee's job title in the same box b. You spend $100 in recruiting costs for each employee. Write this on your budget. e. Decide the amount you will pay your employees and the number of hours each will work. Indicate in the wage/salary boxes if you will offer wages or a salary. For wages, include the hourly pay and calculatiorn of the monthly pay. For salary, include the monthly pay and calculation of the hourly rate. Circle each employee's monthly pay rate. Will you pay all your employees the same amount? Will all your employees work the same number of hours? Consider that lower paid workers are likely to leave more quickly, thus funds r state's requirements. d. Will you offer benefits? On your budget sheet fill in $0 for each benefit you will not offer. For benefits you will offer, use the following numbers: health insurance costs $400 per employee per month (you could pay just a and have the employee cover the rest): life insurance with $50,000 benefits costs $10 per employee r month; disablity insurance costs $100 per month per employee covered; other benefits, such as vacation time, sick time, and holidays are already included in a pay for salaried employees but cost 11.5% of an hourly employee's monthly wages. Add worker's compensation to your budget sheet. Unless your business is located in Texas, you must provide it. For your budge in reality the number is higher with dangerous jobs and lower with safe jobs). If you are in Texas and do not wish to offer worker's compensation, fill in $0 and indicate "Texas" in the box. t sheet, the cost of worker's compensation is $0.65 per hour worked (remember, though, that f. How much money do you want to budget for employces to travel? Consider the prices for airfare, hotel, gas. g. Assume a new employee costs $400 to train. Add this as well as any additional training funds you wish to set h. Add the amount and purpose of any other employee expenses you will set aside. Purposes include items i. Add up your Employee Budget Worksheet (be careful not to add in employee hours as part of the cost). Do you food, and event fees. Add this number to your budget sheet. aside to your budget. Note: all your employees are new such as uniforms, name tags, and company party budget. ill wish to hire three employees? If not, draw an "X" over the namets) of the employee(s) you do not wish to hire (over

Explanation / Answer

Employee Budget Worksheet(first month)

name & job title vice president marketing manager business analyst puen hours of work/month 209=9.5*22 209=9.5*22 187=8.5*22 176=8*22 recruting cost $100 $100 $100 $100 salary/wage per month $3077,hourlyrate=$14.7 $2308,hourly rate= $11.04 $1538,hourly rate=$8.22 $615,hourly rate=$3.5 health insur./month $400 $400 $400 $0 life insur./month $0 $0 $10 $10 other benefits $0 $0 $0 $70.72 disability/month $100 $100 $100 $100 worker comp./month $0 (texas) $0 (texas) $0 (texas) $0 (texas) monthly travel budget $1500 $1000 $500 $0 new employee training $400 $400 $400 $400 monthly training budget $400 $400 $400 $800 other expenses $500 $300 $200 $100 total $6077 $4608 $3248 $1795.72

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