Mr. Smith works for a construction company and receives a paycheck each week. His paycheck (p), in dollars, includes his base sa
lary plus an additional amount for each hour (h) of overtime worked that week. The following equation represents this situation.
What does the number 25.50 represent in the equation?
What does the number 25.50 represent in the equation?
1 answer:
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The amount of employee benefits expense for the current period is
$12,500
Step-by-step explanation:
Belkin Co. provides medical care and insurance benefits to its retirees.
In the current year, Belkin agrees to contribute 5% of the employees’
$250,000 gross salaries to a retirement program
We need to find the amount of employee benefits expense for the
current period
To solve the problem
- Find the percentage of the benefits
- Multiply the percentage of benefits by the gross salary
- The answer is the amount of employee benefits expense for the current period
∵ The benefits for the current year is 5%
∵ These benefits for the gross salaries of $250,000
∴ The amount of benefits = 5% × 250,000
∵ 5% = = 0.05
∴ The amount of benefits = 0.05 × 250,000
∴ The amount of benefits = $12,500
The amount of employee benefits expense for the current period is
$12,500
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