Question

The labor relations term for estimate of the total cents-per-hour costs of employer benefit items affected by a change in the straight-time hourly wage rate is the _________up factor.

Answer 1

The labor relations term for estimate of the total cents-per-hour costs of employer benefit items affected by a change in the straight-time hourly wage rate is the markup factor.

Step-by-step explanation:

The labor relations term for estimate of the total cents-per-hour costs of employer benefit items affected by a change in the straight-time hourly wage rate is the markup factor.

The markup factor represents the additional costs incurred by employers due to changes in wages. It takes into account the increase in employer benefit costs resulting from changes in the straight-time hourly wage rate.

For example, if the straight-time hourly wage rate increases by $1, and the markup factor is 1.2, it means that the total cents-per-hour costs of employer benefit items will increase by 20% (1.2 minus 1) of the $1 increase in wages, resulting in a total increase in labor costs of $0.20 per hour.