the same supervisor in #9 agreed to increase the salary of the employee to 13.00 per hour once she passed her RHIT exam. three months after beginning her employment, the employee passed her RHIY exam. what will the new budget be for salary and fringe benefits?
To calculate the new budget for salary and fringe benefits, we first need to gather some information:
1. Current salary: $12.50 per hour.
2. Proposed salary after passing the RHIT exam: $13.00 per hour.
3. Months since beginning employment: 3.
Let's calculate the new budget:
1. Calculate the salary difference per hour: $13.00 - $12.50 = $0.50 per hour.
2. Calculate the number of new hours worked: 3 months * 4 weeks/month * 40 hours/week = 480 hours.
3. Calculate the increase in salary and fringe benefits: $0.50/hour * 480 hours = $240.
Therefore, the new budget for salary and fringe benefits will increase by $240.
To calculate the new budget for salary and fringe benefits, we need some additional information. Specifically, we need to know the current salary and any fringe benefits the employee is entitled to. The information provided in your question does not include these details, so we can't provide an exact answer. However, I can explain the steps you can follow to calculate the new budget once you have the necessary information.
1. Obtain the employee's current salary:
Contact the HR department or refer to the relevant employment documents to determine the employee's current salary.
2. Determine the fringe benefits:
Review the employee's benefits package or consult the HR department to determine the fringe benefits the employee is entitled to. Examples of fringe benefits include health insurance, retirement contributions, paid time off, etc.
3. Calculate the additional annual salary after passing the RHIT exam:
Subtract the employee's current salary from the increased salary of $13.00 per hour. Multiply this difference by the number of hours worked in a week, and then multiply that by the number of weeks in a year (typically 52) to obtain the additional annual salary increase.
4. Add the additional annual salary increase to the current annual salary:
Add the additional annual salary increase (calculated in step 3) to the employee's current annual salary to find the new annual salary.
5. Calculate the new budget for fringe benefits:
Determine the percentage or fixed amount that the fringe benefits represent in relation to the employee's salary. Multiply this percentage or fixed amount by the new annual salary calculated in step 4 to obtain the new budget for fringe benefits.
By following these steps and obtaining the necessary information, you can determine the new budget for salary and fringe benefits.