The same supervisor in the scenario above agreed to increase the salary of the employee to $15.00 per hour once she passed her RHIT exam. three months after beginning her employment, the employee passed her RHIT exam, What will the new budget be for salary and fringe benefits?
We do not have the senario above.
To calculate the new budget for salary and fringe benefits, we would need to know the current salary and fringe benefits of the employee. Since the scenario doesn't provide that information, we cannot determine the exact budget.
However, I can guide you on how to calculate the new budget once you have the necessary information. Here's how you can do it:
1. Determine the current salary per hour: If the employee's salary is stated in terms of a monthly or yearly figure, divide it by the number of hours worked in a month or year to get the hourly rate.
2. Calculate the increase in salary: Subtract the current hourly rate from the new rate of $15.00 per hour. This will give you the increase in salary per hour.
3. Calculate the additional salary for three months: Multiply the increase in salary per hour by the number of hours worked per month. Then, multiply that by three to account for the three months after passing the exam.
4. Calculate the new budget for salary: Add the total additional salary for three months to the existing salary amount.
5. Calculate the budget for fringe benefits: If the fringe benefits are expressed as a percentage of the salary, multiply the total salary (including the additional salary) by the fringe benefit percentage to get the fringe benefit amount. Then, add it to the total salary.
By following these steps and plugging in the actual numbers once they are known, you can calculate the new budget for salary and fringe benefits.