Question

section objective 13-3 and examples
work out the rate of employee benefits on annual gross pay.
rena tanaka earns an annual salary of $54,320. her benefits total $20,641.60.
tanaka’s total annual benefits are what percent of her annual salary?
step: find the rate of benefits.
total benefits ÷ annual gross pay
$20,641.60 ÷ $54,320 = 38%
review exercises
complete the benefits chart for the omy music store employees.
positions | annual wage | 2 - week vacation | workers comp. | 9 - day sick leave | fica | medicare benefits | total benefits | rate of benefits

3.6%

6.2%

1.45%

1. manager | $65,300 | a. | b. | c. | d. | e. | f. | g.
2. technician | $32,000 | a. | b. | c. | d. | e. | f. | g.
3. cashier | $22,000 | a. | b. | c. | d. | e. | f. | g.
4. instructor | $31,500 | a. | b. | c. | d. | e. | f. | g.
5. marketing mgr | $35,400 | a. | b. | c. | d. | e. | f. | g.

study guide and assessment 449

Explanation:

Step1: Identify the formula

The rate of benefits is calculated by dividing the total benefits by the annual gross pay. The formula is \( \text{Rate of Benefits} = \frac{\text{Total Benefits}}{\text{Annual Gross Pay}} \times 100\% \)

Step2: Substitute the values

We know that the total benefits are \( \$20,641.60 \) and the annual gross pay is \( \$54,320 \). Substitute these values into the formula:
\( \text{Rate of Benefits} = \frac{20641.60}{54320} \times 100\% \)

Step3: Perform the division

First, calculate \( \frac{20641.60}{54320} \). Let's do the division: \( 20641.60 \div 54320 = 0.38 \)

Step4: Convert to percentage

Multiply the result by \( 100\% \): \( 0.38 \times 100\% = 38\% \)

Answer:

The rate of Rena Tanaka's total annual benefits is \( 38\% \) of her annual salary.