Labor Cost
NFSC 230: Introduction to Foodservice Administration
Skill Area: Wage determination
Assignment title: Labor Cost Activity
What I learned: How to determine someone’s gross wages as well as total deductions based upon their hourly rate, overtime hours worked, overtime rate, F.I.C.A, federal withholding, state tax and health insurance.
Reflection to assignment: This assignment taught us how to calculate someone’s net pay after having figured out their gross wages as well as total deductions. The difference between gross wages and total deductions determine net pay.
Relevance to the profession: Everyone receives a paycheck and it is very important to understand where your money is going. Knowing how to calculate gross wages and figure out total deductions gives you more control and ability to speak up if there is an error in the paycheck.
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Labor Cost Activity.pdf Size : 0.011 Kb Type : pdf |
