an employee has an annual salary of $51,300. they receive $2,830 in health insurance and $4,600 in paid time…

an employee has an annual salary of $51,300. they receive $2,830 in health insurance and $4,600 in paid time off per year. they drive their personal vehicle for work which costs them $600 per month, but the company reimburses them $0.54 per mile for the total work miles driven. if the employee drives 36,000 miles for work for the year, what will be their total employment compensation?\na. $70,740\nb. $70,970\nc. $77,570\nd. $78,170

an employee has an annual salary of $51,300. they receive $2,830 in health insurance and $4,600 in paid time off per year. they drive their personal vehicle for work which costs them $600 per month, but the company reimburses them $0.54 per mile for the total work miles driven. if the employee drives 36,000 miles for work for the year, what will be their total employment compensation?\na. $70,740\nb. $70,970\nc. $77,570\nd. $78,170

Answer

Explanation:

Step1: Calculate vehicle - cost for the year

The vehicle cost per month is $600. So for a year (12 months), the cost is $600\times12 = 7200$.

Step2: Calculate mileage - reimbursement for the year

The company reimburses $0.54 per mile and the employee drives 36000 miles. So the reimbursement is $0.54\times36000= 19440$.

Step3: Calculate total compensation

The annual salary is $51300, health - insurance is $2830, and paid - time off is $4600. Total compensation=Annual salary + Health insurance+Paid time off+Mileage reimbursement - Vehicle cost $=51300 + 2830+4600+19440 - 7200$ $=51300+2830 + 4600+19440-7200=70970$

Answer:

b. $70,970