NJ Cala Math Problems Relating to Financial Management 2023/2024 passed

NJ Cala Math Problems Relating to Financial ManagementIn a 110 bed ALF there are a total of 50 employees working eight hours each day at an average salary of $9 per hour. If they waste 5% of their time, what would be the annual cost of this waste? - correct answer 50 x 8 x $9 x 365 x .05 = $65,700 cost of waste During the past year, a 100-bed home with 90 employees experienced 23 resignations and had to discharge 12 staff members. What was the employee turnover rate (as a %) for the year? - correct answer 23 + 12 = 37 who turned over 35 / 90 = .39 = 39% annual employee turnover What is the average daily absentee rate (as a %) for ALF having 100 employees per day and 90 lost-work days or absences in a 30-day month? - correct answer 90 / 30 = 3 To change to a %, divide 3 / 100 = 3% absentee rate If an employee works 52 hours in a 7-day work period and is paid $12 per hour for regular time, the employee should be paid a total weekly income of what according to Federal law? - correct answer 52 - 40 = 12 x ($12 x 1 1/2 ) = $215 40 x $12 = $480 $480 + $215 = $695 total gross wages An 8/80 employee is scheduled to work 8 hours per day for 5 days per week at a wage of $10.90. However, due to another employee's absence, the employee worked two twelve-hour days and two additional 8-hour days. What will be the gross wages for the two-week period? - correct answer 8 hours x 10 days = 80 regular hours 80 hours x $10.90 = $872.00 regular wage (12-8) = 4x2 = 8 hours PLUS 2 x 8 = 16 hours total $10.90 x 1 ½ = $16.35 O/T hourly wage rate