eferences Mailings Review View Help MGMT 3344 25 Point Assignment Wages and Benefits Math Problem Stuff Given: 278 hourly workers Average hours worked per day. per worker 8 (no overtime) Average hourly pay 825 per hour Average number of days worked per year, per person 236 You, as Big Boss, are confronted with balancing what workers want, in this case more money and time off, with the cost of labor and competitive pressures. Using the numbers given above 1, what is the annual cost of a 2.15% increase in wages? 2. What is the annual cost of giving alt 278 hourly workers I additional paid holiday (8 hours pay)? 3. If our total hourly labor currently amounts to 20% of our annual production cost, what is the total current cost of production for 1 year? 4. How do you, Big Boss, propose paying for the wage increase and additional holiday. You cannot raise prices for your products and sales volume forecasts are flot
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