Callie is comparing the costs of two options for her college education
2 answers:
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Given:
- The table of typical hours worked by employees at a company
- salaried employee makes $78,000 per year
- hourly employees get $26 per hour and $39 per hour when they work more than 40 hours.
To Find: Which payment option to recommend to a new employee.
Solution: I would recommend being a salaried employee.
Explanation:
We begin by calculating the typical number of hours worked per week.
Adding up the hours from the table, we have .
The payment for an hourly employee must be calculated as $26 per hour for working till 40 hours, and $39 per hour when they work more than 40 hours.
So, the payment for 47 hours of work per week will be dollars.
As there are 52 weeks in a year, the yearly payment for an hourly emplyee would be . That is, an hourly employee would earn $68276.
On the other hand, we are given that a salaried employee makes $78000 per year which is more money than what an hourly employee makes for the same amount of work.
Therefore, I would recommend a new emplyee to be paid a salary rather than work on an hourly basis.