...has asked you to evaluate his business, Andre’s Hair Styling. Andre has five barbers working for him. (Andre is not one of them.) Each barber is paid $9.90 per hour and works a 40-hour week and a 50-week year, regardless of the number of haircuts. Rent and other fixed expenses are $1,750 per month. Hair shampoo used on all clients is $0.40 per client. Assume that the only service performed is the giving of haircuts (including shampoo), the unit price of which is $12. Andre has asked you to find the following information. 1. Find the contribution margin per haircut. Assume that the barbers' compensation is a fixed cost. Show calculations to support your answer. To find the contribution margin per haircut the formula is: Contribution margin= Selling Price – Unit Variable Costs Selling Price= $12 Unit Variable Costs= $0.40 $12 - 0.40= $11.60 The Contribution Margin per haircut is $11.60 2. Determine the annual break-even point, in number of haircuts. Support your answer with an appropriate explanation. Show calculations to support your answer. Determining the Annual Break-Even point on the number of haircuts formula is as follow: Fixed Cost= Workers Compensation+ Rent Amount of workers= 5 Workers Compensation= $9.90 per hour Hours Per week= 40 hrs. week Week per year= 50 week a year Fixed rent=$1750...
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...Senior Financial Analyst position. The questions that were asked are as follows: 1. What is the highest educational requirement needed for a Senior Financial Analyst? A) Bachelors; B) Masters, C) Doctorate, or D) Certificate/License 2. How many years of experience are needed to become a Senior Financial Analyst? A) Less than 5 years; B) 5 years; or C) more than 5 years 3. How many hours do you work each week as a Senior Financial Analyst? A) Less than 40 hours per week, B) 40 hours per week; or C) More than 40 hours per week. 4. Due to the level of responsibilities for a Senior Financial Analyst, are you happy with your annual compensation? A) Yes or B) No 5. Are you satisfied being a Senior Financial Analyst? A) Yes, o B) No Out of the 17 emailed surveys, I received responses from 13. The results to the questions are below in Table 1: Table 1 Highest Level of Edu Bachelor Masters Doctorate Certificate/License 3 8 2 0 Years of Experience Less than 5 years 5 years More than 5 years 0 9 4 Hours Worked Less than 40 per week 40 per week More than 40 per week 0 3 10 Compensation Yes No 7 6 Job Satisfaction Yes No 9 4 The survey data provided in the table above will be used in syntactical content which is described as any words, phrases, sentences or paragraphs; word are the smallest and most reliable data...
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...Division Re: Request for pay increase Mrs. Actor, while we value the years of loyal service you have provided the Mack Organization, we are unable to match the salary increase that you are seeking. The only increase that the company could consider giving you is a cost of living increase. If you send us your reviews, showing that you have received high review scores, we could then consider giving you a 3-5% cost of living increase based on the performance review ratings. Also sending us a letter of endorsement from your supervisor would be helpful in getting you this cost of living increase as well. Once again your continuous loyalty to this company is greatly valued, and appreciated, and we hope that you will consider this counter offer as long as all the paperwork is filled and meets the standard (Nkomo et al., 2011). Additional Action: Follow up with Mrs. Actor to see if she has all the paperwork and necessary reviews in order to be considered for the cost of living increase. Also check with her supervisor and see if she recommends keeping Mrs. Actor in the company. Item 3 To: Jane Swenk, Supervisor From: Wage and Salary Section Re: Long-term employee wage dispute Dear Jane, Thank...
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...Business Solutions Compensation and Benefits Jerome Rutledge, Rahim Shadid, Sridhar Venugopal, Ursula Wester, and Cassandra Woods HRM 531 April 18, 2013 Carolyn Szlaga Purpose The purpose of this plan is to provide fair and equitable compensation for the individual(s) that will be performing the assistant project manager role at Westar Small Business Solutions. This plan clearly describes the total compensation that Westar Small Business Solutions will be providing to those performing the Assistant Project Manager Role. Eligibility This compensation plan applies to full-time, managerial employees performing the Assistant Project Manager Role at Westar Small Business Solutions. This plan does not apply to part-time or contract staff. Goals and Objectives Westar Small Business Solutions believes in the following compensation principles: * To provide fair and equitable compensation to employees. * To reflect the extensive educational and experience credentials required of Consulting Professionals as well as the value their roles bring to the organization. * To offer competitive pay and benefits, within the context of our industry to attract and retain the best talent possible. * To use compensation as a tool to recognize individual merit. * To provide performance-based incentives to encourage excellence and reward employees for his or her contribution to the achievement of organization goals. Compensation Components Total compensation at Westar Small...
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...2009 Compensation & Benefits Survey Questionnaire Any systematic approach to sound salary and benefits administration requires complete, accurate and reliable survey data. It is your reporting that counts. Please complete this compensation and benefits questionnaire and return it by July 31, 2009, so that we may in turn provide you with the most reliable data possible. This survey is also offered online here: http://www.hrsource.org/olstart/olsite/index.cfm. Your userID/password are supplied on the cover letter included with this mailing, or call or email us to have it sent again. Please Print: (This information will remain confidential and will not be re-distributed to any third parties.) Completed by: __________________________________________________ Organization: _____________________________________________________ Phone: ______________________________________________ Email: _________________________________________________________ INSTRUCTIONS To make this survey the greatest value to you and to all other participants, please follow these instructions carefully: QUESTIONS 2 & 3: Please provide information for these two questions based on your location. This information is used to present data in different formats in the results. PAY PERIOD: Report salaries for the pay period nearest to July 1, 2009. REPORTING PAY: Base rates are defined as actual straight time pay. Do not include overtime premiums, shift differentials, bonuses or any other incentives or variable...
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...2012 Dear Shareholders: You are cordially invited to attend the Starbucks Corporation 2012 Annual Meeting of Shareholders on March 21, 2012 at 10:00 a.m. (Pacific Time). The meeting will be held at Marion Oliver McCaw Hall at the Seattle Center, located on Mercer Street, between Third and Fourth Avenues, in Seattle, Washington. Directions to McCaw Hall and transportation information appear on the back cover of the notice of annual meeting and proxy statement. Under the Securities and Exchange Commission rules that allow companies to furnish proxy materials to shareholders over the Internet, Starbucks has elected to deliver our proxy materials to the majority of our shareholders over the Internet. This delivery process allows us to provide shareholders with the information they need, while at the same time conserving natural resources and lowering the cost of delivery. On January 26, 2012, we mailed to our shareholders a Notice of Internet Availability of Proxy Materials (the “Notice”) containing instructions on how to access our proxy statement for our 2012 Annual Meeting of Shareholders and fiscal 2011 annual report to shareholders. The Notice also provides instructions on how to vote online or by telephone and includes instructions on how to receive a paper copy of the proxy materials by mail. The Notice will serve as an admission ticket for one shareholder to attend the 2012 Annual Meeting of Shareholders. On January 26, 2012, we also first mailed this proxy statement and...
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...Compensation In this assignment the upper management has asked Eric Garcia to suggest a new compensation plan specifically for the Puerto Rican team that include: A description of a compensation package for the new employment team, why the pay system will work, what reward package would motivate the employees to increase performance, compensation plan’s benefits to the individual and the company and how the Puerto Rican compensation plan differs from the parent company’s compensation plan. He must propose the plan and a rationale to the Human Resources Department for approval. Compensation package for new employment team The level of pay in a company is one or the most important aspect of the employee; they will pay close attention in this category in terms of fairness. If the employees think the pay level for the job is not acceptable the lack of commitment and mistrust will be reflected in their performance. According to University of Phoenix Week Five Compensation (2012), there are four key challenges of pay planning and administrative system: (1) Understand the pay levels of economics and legal factors. (2) To develop a systematic pay structure. (3) Combine compensation and general business strategy. (4) Address key policy issues. Granting bonuses to new heirs it can offer a competitive compensation package, especially for those with special required skills by the company. Overtime will be provided by request and it can be rotated among the employees so it can be share...
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...Take Home Exam #2 Due Sunday night in week #7 Name:_____ 1. (11 points) Why is it necessary for an organization to appraise performance formally? Performance appraisals are necessary for an organization to understand each employee’s skills, abilities, and competencies. Performance appraisals are used to rate the employee’s performance. Formal performance appraisals are important to organizations because they clarify the employee’s roles and responsibilities, and helps align individual goals with organizational goals. Formal performance appraisals also allows for evaluation of the employee’s performance and contribution towards organizational goals. Formal performance appraisals can also be a learning tool for employees and management through the feedback process of the appraisal. During the feedback process, management should express what the employee has done well and they have not. Management should elaborate on ways the employee can improve performance in areas the employee does not perform well at. 2. (11 points) Identify and describe the different reasons for implementing a short-term bonus. Organizations implement short-term bonuses to improve performance, reduce costs, increase motivation and employee buy-in, and to recruit and retain employees with critical knowledge, skills, and/or abilities. Monetary bonuses for performance and completion of organizational goals can motivate employees to perform at higher rates, and help the organization...
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...Communication between top mgmt and supervisors?! - Autonomy for plant mgr - operated as an independent business! • Employees tell mgrs about their bad decisions — where is top mgmt? (no input/guidance)! • Too many risks?! - HR - People like working there! • Large labour supply! • Performance based pay, fairness! • Grievance reviews! - GM, then HQ! - Does HQ need to get involved?! • Annual dinners with GMs, monthly crew meetings, employee surveys! - Discuss any employee problems! • No layoffs! - Reduced workweek instead! - Compensation! • 1. Production Incentive plan! - Bonuses for workgroups (25-40 workers) based on anticipated vs. actual production! - 80-150% of base wage - BIG! 1 Tuesday, September 9, 2014 - Late - Lose bonus for the day, Sick - Lose bonus for the week! • 4 forgiveness days per yr! • Too harsh? Maybe not considering strong labour pool! - Supervisors and maintenance included! • No bonus paid of equipment not operating on that shift! • 2. Department Manager Plan! - Annual bonus based on ROA for the plant! • Target of 25%! • Average 82% bonus in recent years! - High?! • 3. Non-Production/Department Mgr Plan! - Accountants, engineers, clerks, etc! - Bonus based primarily on ROA for their plant! - Could be over 25% of base salary! • 4. Senior Officers Incentive Plan! - inc. Plant General Mgrs! - Based on return on shareholders’ equity! - Could be several times base salary! - 60/40 stock/cash! - Low salary - so when the company does poorly, executives are...
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...that a month is one-twelfth of 52 weeks.) Company: CHC Forecast Inc is a software company that has four full-time professionals who are paid monthly salaries and eight part-time representatives who are paid weekly for the hours they work that week. The deductions from pay include federal tax (ignore state tax for this exercise), Social Security (FICA), and deferred savings through a 401(k) plan. Instructions for calculating federal taxes using the percentage method and the tables are shown below. The company’s 401(k) plan matches what the employees save on a one-to-one basis for the first three percent and a half of a percent for each one percent the employee saves up to a maximum of six percent for the company. The company pays Workers Compensation, Social Security, and Unemployment Compensation. Workers’ Compensation costs for the company are two percent of the first $7,000 of an employee’s annual salary. FICA is 7.65% (1.45% plus 6.2% of the first $97,500) for both the employer and the employee. Unemployment compensation (FUTA) is 0.8 percent of the first $7000 of annual income. Workforce: Full-time: Monthly Salary 401(k) % Marital Status Exemptions Jack $8,800 20 Married 2 David $6,600 20 Married 0 Kris $5,100 10 Single 1 Mark $4,900 8 Married 6 Part-Time Hr.Rate Hours 401(k)% Marital Status Exemptions Edgardo $12 15 20 Married 7 Bill $12 15 15 Married 5 Shera $12 15 10 Married 3 Mindy $10 15 10 Married 0 ...
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...Danielle K. Ellison 22418 15 East Street Mineral, IL 61344 Student ID 21820664 Compensation Management, HRM 210 41200800 People all over the world are paid in numerous forms of payment schedules. “Compensation is payment in the form of salary or wages” (1). “A salary is a fixed compensation paid for regular services” (2). “A wage is a payment usually of money for labor or services usually according to a contract and on an hourly, daily, or piecework basis “(3). Merriam-Webster listed the fore stated definitions and though they are semi accurate, they are vague and not specific. Here in the United States, from my personal experience and knowledge, I will define these three words. Compensation is the sum of profits you receive from working a job including money and benefits. A salary is the money you make when you work a job, it is a fixed amount more often than not. Wages is how the money you will make is calculated in a paying job. For example, your hourly wage, annual wage, your piecework rate, or your cents per mile rate, are all different way to be paid in numerous different jobs or trades. Annual salaries are given out most often as a form of compensation in high executive positions and management positions. These positions are often very demanding and call for a lot of personal time to dedicate to a position. Often a management position has more work at variable hours. Salary positions are also given to people on call in a certain line of work. In a line of work...
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...2011 ANNUAL REPORT notice of annual meeting of stockholders and proxy statement Corporate Profile AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories in the United States. The Company also operates stores in Puerto Rico and Mexico. 1 52 155 23 53 40 67 478 38 104 84 181 157 119 67 62 59 79 85 547 112 98 180 14 221 144 26 101 6 45 233 121 70 13 129 20 37 71 15 69 1 34 19 5 2 6 1 30 233 Each store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Many stores also have a commercial sales program that provides commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, service stations, and public sector accounts. AutoZone also sells the ALLDATA brand of diagnostic and repair software through www.alldata.com. Additionally, we sell automotive hard parts, maintenance items, accessories, non-automotive products and subscriptions to ALLDATAdiy product through www.autozone.com, and our commercial customers can make purchases through www.autozonepro.com. AutoZone does not derive revenue from automotive repair or installation. 279 27 4,534 stores in 48 states in the United States, the District of Columbia and Puerto Rico 279 stores in 31 Mexican states and the Federal District. Selected...
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...Snigdharani Mishra for all her patient guidance and help in successfully completing the project. Our special thank to Mr. Mohhamad Javed (Manager HR, TCS) and Mr. Divya Prakash Purohit ( Software Engg.,TCS). TABLE OF CONTENT 1. Introduction..........................................................................................3 1.1. History of Company...................................................................3 1.2. About the Company...................................................................3 1. HR Group in TCS................................................................................4 2. Manpower Planning.............................................................................5 3. Recruitment Process............................................................................5 4. Training & Development....................................................................6 5. Customer Complaint Management......................................................9 6. Performance Management.................................................................13 7. Compensation management...............................................................17 8. Retention...
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...ACC/280-Week 2 team assignment- Sandy’s portion (Amounts in millions) What were the company’s two largest current liabilities at the end of its 2 most recent annual reporting periods? Wal-Mart’s two largest current liabilities at the end of its two most recent annual reporting periods were: 2012-Accounts payable totaling $36,608 and Accrued liabilities totaling $18,154. 2011-Accounts payable totaling $33,676 and Accrued liabilities totaling $18,701. Accrued liabilities consisted of the following: Accrued wages and benefits, self-insurance and other. (1)Accrued wages and benefits include accrued wages, salaries, vacation, bonuses and other incentive plans. (2) Self-insurance consists of all insurance-related liabilities, such as workers’ compensation, general liability, vehicle liability, property and employee-related health care benefits. (3) Other accrued liabilities consists of various items such as accrued taxes, maintenance, utilities, advertising, interest, and severance liabilities. What were the company’s total liabilities at the end of its 2 most recent annual reporting periods? The company’s total liabilities at the end of fiscal year 2012 totaled: $62,300. For fiscal year 2011, Wal-Mart’s current liabilities totaled $58,603. Other liabilities that were included in this total were: Accrued income taxes, long-term debt due within one year, Obligations under capital leases due within one year and current liabilities of discontinued operations. ...
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...efficient? While organizational managers have an eye on fulfilling the company’s mission and corporate strategy, HR staff can work with them to develop compensation and motivation plans that support and reinforce mission/strategy fulfillment. Based on the type of organization, HR expertise can be used to determine whether financial or nonfinancial rewards are more culturally (within the organization) impactful. Many companies are starting to offer perks, like discounts on wellness (gym) or life (car rental) related expenses, bonus incentives for goal achievement (Cascio, 2012). Ensuring the right compensation/incentive strategies are in place helps businesses “attract and retain the right people” (Cascio, 2012 p426). What compensation and benefits have been used as incentives for employee productivity and motivation? Evaluate how effective the compensation and benefits were at motivating employees and increasing productivity. My husband worked in sales at an organization for several years. The work environment was brutal and it seemed as though there was a constantly revolving door of new employees. The benefits weren’t great, but the base pay was good. Employees received substantial bonuses for achieving certain metrics. In addition to bonus options, top performers were invited to attend an annual, all-expenses paid, week long leadership conference in places like Puerto Rico and The Bahamas; a huge incentive. Vroom’s 1964 Expectancy Theory suggests that individuals are...
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