Question

Michael is considering two job offers. • The manager position pays a salary of $59,000.00 per year and includes two weeks of paid vacation, five sick days per year, paid health insurance and a fully paid retirement plan. • The technician position pays an hourly wage of $30.00 per hour and includes five vacation days per year, five sick days per year, health insurance costs $35.00 per month, and a retirement plan that costs 1% of after tax income. The government takes out 6.2% for Social Security, 1.45% for Medicare, and 15% for income tax. Assume that Michael will take 10 vacation days and five sick days per year. 1- Calculate the gross annual income for the technician position. 2- Calculate the gross monthly income for the manager job. 3- Calculate the gross monthly income for the technician position. 4- Calculate the after-tax monthly income for the manager position. 5-Calculate the after tax monthly income for the technician position. 6-The manager position includes two weeks (10 days) of vacation. Calculate the monthly cost for vacation for the manager position. Explain how you calculated your answer. 7-Calculate the monthly cost of a retirement plan for the technician position. 8-Calculate the NET monthly income for the manager position. Recall that "net" means after all deductions are taken, including taxes, health insurance, vacation, sick leave and retirement. 9-Calculate the NET monthly income for the technician position. Recall that "net" means after all deductions are taken, including taxes, health insurance, vacation, sick leave and retirement.

Answer 1