Butcher Enterprises spends $ 17.6on wages and $4.4 on benefits, respectively, on an average hourly basis. Round your response to the nearest hundred place.
Question Parameter
Butcher Enterprise has been found to have provided a total remuneration of $22 per hour, which is equivalent to the average hourly pay.
The percentage of income over that which is allocated to wages equals 80 percent.
Generally, the equation for the average hourly rate for wages is mathematically given as
AW=rate *amount
Therefore, the average hourly rate for wages
AW= 80% of $22
= $17.6
Hence, the Average hourly rate for benefits is given as
AB= 22 - 17.6
AB= $4.4
In conclusion, The meat-packing company spends $17.6 on salaries and $4.4 on benefits per employee.
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CQ
Butcher Enterprises has experienced substantial employee turnover among its office workers. During exit interviews, more than 80 percent stated that low pay was the top reason for resigning. The company 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 $29.00 for total compensation. Of this amount, wages are $26.00 per hour and benefits are $3 per hour. In comparison, Butcher Enterprises spends an average hourly rate of $22 for total compensation. Of this amount, 80 percent is allocated for wages.
Butcher Enterprises spends $ ______ on wages and $ ______ onbenefits, respectively, on an average hourly basis. Round your response to the nearest hundreths place.
