Question

A salaried worker earns $63,500 per year and gets a benefits package worth 31% of his

salary. What is the weekly labor cost (including benefits) for this employee?

Answer 1

$ 1600 weekly

Explanation:

The first thing to calculate the weekly salary we must calculate the total salary, which would be $ 63500 plus 31% of this, that is:

s = 63500 + 0.31 * 63500

s = 83185

Which means that this person's total annual salary is $ 83,185.

We know that a normal year has an average of 52 weeks, therefore, to know the value per week, we must divide the total salary by this number.

83185/52 = 1599.71

Which means that the cost of this employee is approximately $ 1600 weekly