Budget Analysis

You have inherited your uncle’s retain carpet business. He has six (6) full-time installers paid $ 15.00 an hour who have been with the company for
The post Budget Analysis first appeared on COMPLIANT PAPERS.

You have inherited your uncle’s retain carpet business. He has six (6) full-time installers paid $ 15.00 an hour who have been with the company for an average of ten years. A usual installation requires two persons and takes 2 to 4 hours. You pay for single health care at $ 600.00 a month and provide two weeks vacation which is taken during slow periods. Employees on vacation are not replaced. Payroll taxes cost you 20% of wages. There are weeks when installers only work an average of ten hours installing. During those weeks, they are used to unload carpet delivered from the suppliers and to help with customer service. During busy periods, about ten weeks a year, installers work 20 hours of overtime each. Your retail store is covered by 4 FTE of part time employees at $ 12.00 an hour who receive no vacation or health insurance. Your employees work Monday through Friday. There are 260 week days during 2021. The store is closed on legal holidays and employees are paid their regular wages on those days if during the regular work week.

a. What is your budget for 2021.
b. Describe the advantage and disadvantages of having the installing done by independent contractors instead of employees.
c. Describe all you would do and what you would consider in converting some or all of your employees to independent contractors, the rate you would pay and the reason therefor and how it would be paid.
d. State all you will do to assure that the independent contractors you utilize are considered independent contractors.

The post Budget Analysis first appeared on COMPLIANT PAPERS.

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