What are the three costs associated with recruiting new employees?
What are advertising, interviewing, and hiring costs.
100
What is meant by a merit increase?
What is an increase in pay for being good at your job!
100
The cost of living adjustment covers ______________.
What is inflation.
100
Name three examples of benefits employers pay for.
What are sick leave, paid vacation, paid holidays, personal days, health insurance, dental insurance, and/or unemployment insurance.
100
What is the purpose of disability insurance?
It assists you financially if you miss work due to an illness or injury.
200
What is the purpose of worker's compensation?
Covers employees' medical expenses and lost wages if they are hurt on the job.
200
What type of insurance assists you if you become involuntarily unemployed?
What is Unemployement Insurance.
200
What is the federal unemployment tax (FUTA) rate?
What is 6.2% - the state tax rate.
200
Up to $________________ of your wages are subject to unemployment tax per year.
What is $7,000.
200
What are some costs associated with planning a business trip?
What are transportation costs, lodging, meals, entertainment, vehicle cost, etc.
300
What is meant by release cost when calculating employee training costs?
When you are paid your regular pay even though you are attending a training session.
300
If your advertising expenses are $350, your hiring expenses are $1,500, and your interviewing costs are $3,200, what is your total recruiting cost?
What is $5,050.
300
If your present salary is $52,000, and your employer gives you 2.5% cost of living adjustment and a 2.75% merit increase, what is your new salary?
What is $54,730.
300
What is the rate of benefits if your annual salary is $28,000 and your total benefits are $9,100?
What is 32.5%.
300
What is your rate of benefits if your annual salary is $35,000 and your total benefits are $10,500?
What is 30%.
400
Peter Griffin worked at Turnman Company for 25 years when he became disabled and could no longer work. He is now 51 and expected to retire at the age of 65. Turnman's rate of benefits is 2.15% and Peter's average salary was $67,200. What is his monthly disability amount?
What is $4,695.60.
400
Fred Flinstone, age 47, had worked 20 years when he became permanently disabled. She qualified for SSI. Assuming she is single with no dependents, what is her monthly SSI disability benefit?
What is $531.
400
What is the monthly compensation premium when your monthly payroll is $19,760 and you pay $9.72 (base rate per $100)?
What is $1,920.67.
400
Devon Mendoza attended a five day manager's seminar. Her employer will reimburse her for travel expenses. She drove a total of 454 miles, for which she will be paid at a rate of $0.27 per mile. Tolls cost her $6.40. The seminar's registration fee was $375. Her hotel cost her $97 per night for 4 nights. Her meals totaled $118. What are her total business travel expenses?
What are $1,009.98.
400
American Idol held an all day training seminar for 3 of its employees. Each of the employees earns $200 per day. The instructor earned $230 for teaching the seminar. A lunch was provided that cost a total of $39.75. Textbook and materials for the seminar cost $19.99 per person. What are the total employee training costs for this seminar?
What are $929.72.
500
If Titus Carnathan earns $37,500 per year, and his state tax rate is 3.7%. What is his state tax amount? What is his Federal Tax Rate? What is his Federal Tax Amount?
State tax: $259; Federal Tax Rate: 2.5%; Federal Tax Amount: $175.
500
Mark Cassell traveled to sales seminar in Dallas, Texas. Airfare cost him $389. A car rental cost him $27.95 per day for 5 days. His hotel room cost $85 per night for 4 nights. A textbook and supplies for the seminar cost $49.95. His meals totaled $124.64. What were Mark's total travel expenses?
What are $1,034.34.
500
Randi-Lynn works as an assembly line foreperson at $16.85 per hour. She works 40 hours per week. Her benefits include 2 weeks paid vacation, 8 paid holidays, 3 paid sick days, 3.75% worker's compensation, and 4.5% unemployment insurance. What is Randi-Lynn's rate of benefits?
What is 16.3%.
500
Randal Cunningham worked for 15 years when he became permenantly disabled and could no longer work. He is now 40 and expected to retire at the age of 64. His final average salary was $32,500 and his rate of disability benefits is 2.1%. What is his weekly disability benefit?