TimeTrax Manual  
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TimeTrax Calculations

Table of Contents


 
Introduction

The actual calculations performed by TimeTrax each week for each employee to establish the employee's true cost-per-hour are somewhat complex. Generally, we don't expect the typical TimeTrax user to wade through these calculations, but we felt it was important to provide them for the following reasons:

  1. We know that there are going to be some die-hard math fanatics and accountant types that will be interested in reviewing our exact methodology.
  2. We want to put them up for inspection because we want to hear from anyone and everyone who believes we've made a mistake in the calculations.

We invite those of you who are so inclined to inspect these calculations, and we invite your observations and remarks on the subject. Please feel free to email me directly at bond@powertoolssoftware.com


 
Payroll Cost Calculations by Employee

These are the cost-per-hour calculations for a typical hourly employee working 40 hours in a week at $10.00 per hour.


PAYROLL COST CALCULATIONS by EMPLOYEE
STEP 1   ENTER BASIC DATA              
1.1 Hours TOTAL Hours Worked From Employee Time Sheet 40.00 hrs
1.2 Pay Rates Reg Hourly Rate From Employee Records $10.00 /hr
Overtime Hourly Rate From Employee Records $15.00 /hr
   OR OR
Annual Salary From Employee Records $0.00 /yr
1.3 Payroll Taxes FICA Rate From the IRS 7.65% rate
FUTA Rate From the IRS 0.80% rate
SUTA Rate From State Unemployment Office 2.40% rate
Other Taxes Varies 0.00% rate
1.4 WC Rates Experience Modifier From Insurance Agent 0.95 factor
Employee WC Rate Default Rate for WC by Employee 32.50% rate
1.5 Benefits Insurance From Employee Records $125.00 /mth
Retirement From Employee Records $0.00 /mth
Child Care From Employee Records $0.00 /mth
Benefit 1 From Employee Records $0.00 /mth
Benefit 2 From Employee Records $0.00 /mth
1.6 Pd Time Off Average Hours/wk From Employee Records 40.00 hrs/wk
(PTO)
Company PTO From Employee Records + 40.00 hrs/yr
Individual PTO From Employee Records     + 40.00 hrs/yr
Annual PTO Hours Sum of all of the above = 80.00 hrs/yr
STEP 2   CALCULATE EMPLOYEE EARNINGS            
2.1 Regular Pay Regular Hourly Rate From STEP 1.2 $10.00 /hr
Regular Hours All Hours less than or equal to 40     x 40.00 hrs
TOTAL Regular Pay Regular Hours x Hourly Rate = $400.00 /wk
2.2 Overtime Pay Overtime Hourly Rate From STEP 1.2 $15.00 /hr
Overtime Hrs All Hours greater than 40 x 0.00 hrs
TOTAL Overtime Pay Overtime Hours x Overtime Rate = $0.00 /wk
2.3 Salary Annual Salary From STEP 1.2 $0 /yr
Weeks per Year Constant @ 52 wks per/yr 52 wks
TOTAL Salary Annual Salary 52 = $0.00 /wk
2.4 TOTAL EMPLOYEE EARNINGS From STEPS 2.1+2.2 or STEP 2.3 $400.00 /wk
STEP 3   CALCULATE PAYROLL TAXES              
3.1 FICA Employee Earnings From STEP 2.4 $400.00 /wk
FICA Rate From STEP 1.3 x 7.65% rate
TOTAL FICA Costs Employee Pay x FICA Rate = $30.60 /wk
3.2 FUTA Employee Earnings From STEP 2.4 $400.00 /wk
FUTA Rate From STEP 1.3 x 0.80% rate
TOTAL FUTA Costs Employee Pay x FUTA Rate = $3.20 /wk
3.3 SUTA Employee Earnings From STEP 2.4 $400.00 /wk
SUTA Rate From STEP 1.3 x 2.40% rate
TOTAL SUTA Costs Employee Pay x SUTA Rate = $9.60 /wk
3.4 Other Tax Employee Earnings From STEP 2.4 $400.00 /wk
Other Rate From STEP 1.3 x 0.00% rate
TOTAL Other Taxes Employee Pay x Other Tax Rate = $0.00 /wk
STEP 4   CALCULATE WC COSTS              
4.1 WC by Employee WC Rate From STEP 1.4 32.50% rate
WC Modifier From STEP 1.4 x 0.95 factor
Net WC Rate WC Rate x WC Modifier = 30.88% net rate
Emp Earnings From STEP 2.4     x $400.00 /wk
TOTAL WC Costs Employee Earnings x WC Rate = $123.50 /wk
STEP 5   CALCULATE EMPLOYEE BENEFITS            
5.1 Insurance Monthly Cost From STEP 1.5 $125.00 /mo
Months per year Constant @ 12 months per/yr x 12 mts
Yearly Cost Monthly Cost x 12 months = $1,500.00 /yr
Weeks per year Constant @ 52 wks per/yr 52 wks
TOTAL Insurance Cost Yearly Cost 52 weeks = $28.85 /wk
5.2 Retirement Monthly Cost From STEP 1.5 $0.00 /mo
Months per year Constant @ 12 months per/yr x 12 mts
Yearly Cost Monthly Cost x 12 months = $0.00 /yr
Weeks per year Constant @ 52 wks per/yr 52 wks
TOTAL Retirement Cost Yearly Cost 52 weeks = $0.00 /wk
5.3 Child Care Monthly Cost From STEP 1.5 $0.00 /mo
Months per year Constant @ 12 months per/yr x 12 mts
Yearly Cost Monthly Cost x 12 months = $0.00 /yr
Weeks per year Constant @ 52 wks per/yr 52 wks
TOTAL Child Care Cost Yearly Cost 52 weeks = $0.00 /wk
5.4 Benefit 1 Monthly Cost From STEP 1.5 $0.00 /mo
Months per year Constant @ 12 months per/yr x 12 mts
Yearly Cost Monthly Cost x 12 months = $0.00 /yr
Weeks per year Constant @ 52 wks per/yr 52 wks
TOTAL Benefit 1 Cost Yearly Cost 52 weeks = $0.00 /wk
5.5 Benefit 2 Monthly Cost From STEP 1.5 $0.00 /mo
Months per year Constant @ 12 months per/yr x 12 mts
Yearly Cost Monthly Cost x 12 months = $0.00 /yr
Weeks per year Constant @ 52 wks per/yr 52 wks
TOTAL Benefit 2 Cost Yearly Cost 52 weeks = $0.00 /wk
STEP 6   CALCULATE PAID TIME OFF   (PTO)            
6.1 Basic Data Hourly Pay Rate From STEP 1.2 $10.00 /hr
Total Hours Worked From STEP 1.1     x 40.00 hrs
Earnings (no OT) Hourly Rate x Total Hours = $400.00 /wk
6.2 Payroll Taxes FICA From STEP 1.3 + 7.65% rate
FUTA From STEP 1.3 + 0.80% rate
SUTA From STEP 1.3 + 2.40% rate
Other Taxes From STEP 1.3 + 0.00% rate
SUBTOTAL Sum all of the above = 10.85% rate
Earnings (no OT) From STEP 6.1 x $400.00 /wk
TOTAL Payroll Taxes Payroll Tax Rate x Earnings = $43.40 /wk
6.3 Benefits Insurance From STEP 5.1 + $28.85 /wk
Retirement From STEP 5.2 + $0.00 /wk
Child Card From STEP 5.3 + $0.00 /wk
Benefits 1 From STEP 5.4 + $0.00 /wk
Benefits 2 From STEP 5.5 + $0.00 /wk
TOTAL Benefits Sum of all of the above = $28.85 /wk
6.4 Hourly Average Employee Earnings From STEP 6.1 + $400.00 /wk
Payroll Taxes From STEP 6.2 + $43.40 /wk
Benefits From STEP 6.3 + $28.85 /wk
TOTAL Payroll Costs Sum all of the above = $472.25 /wk
TOTAL Hours From STEP 1.1 40.00 hrs
Hourly Average Total Payroll Cost Total Hours = $11.81 /hr
6.5 Working Hours Avg Hrs/week From STEP 1.6 40.00 hrs
per Year Weeks per year Constant @ 52 wks per/yr x 52 wks
Annual Hrs Avg hrs/week x 52 weeks/yr = 2,080.00 hrs
Annual PTO Hrs From STEP 1.6     - 80.00 hrs
Productive Hrs Total Annual Hrs - Annual PTO hours = 2,000.00 hrs
6.6 PTO Base Cost Annual PTO hrs From STEP 1.6 80.00 hrs
Productive Hrs Total Annual Hrs - Annual PTO hours 2,000.00 hrs
Ratio Annual PTO Hrs Annual Working Hrs = 4.0000% ratio
TOTAL Payroll Costs From STEP 6.4     x $472.25 /wk
TOTAL PTO Cost Total Payroll Costs x Ratio = $18.89 /wk
6.7 PTO Cost using PTO Base Cost From STEP 6.6 $18.89 /wk
WC by Employee WC Rate From STEP 4.1 x 30.88% rate
PTO WC Cost PTO Base Cost x WC Rate = $6.14 /wk
PTO Base Cost From STEP 6.6 + $18.89 /wk
PTO Cost with WC PTO Base Cost + PTO WC Cost = $25.03 /wk
STEP 7   CALCULATE PAYROLL COSTS without WC            
7.1 Emp Earnings Regular & OT or Salary From STEP 2.4 = $400.00 /wk
7.2 Payroll Taxes FICA From STEP 3.1 + $30.60 /wk
FUTA From STEP 3.2 + $3.20 /wk
SUTA From STEP 3.3 + $9.60 /wk
Other From STEP 3.4 + $0.00 /wk
TOTAL Payroll Taxes Sum of all the above = $43.40 /wk
7.3 Benefits Insurance From STEP 5.1 + $28.85 /wk
Retirement From STEP 5.2 + $0.00 /wk
Child Care From STEP 5.3 + $0.00 /wk
Benefits 1 From STEP 5.4 + $0.00 /wk
Benefits 2 From STEP 5.5 + $0.00 /wk
TOTAL Benefits Sum of all the above = $28.85 /wk
7.4 PTO Costs TOTAL PTO Costs From STEP 6.6 = $18.89 /wk
7.5 TOTAL TOTAL Costs (no WC) Earnings, Taxes, Benefits & PTO = $491.14 /wk
STEP 8   CALCULATE TOTAL COST and COST per HOUR            
8.1 WC by Employee TOTAL All Other Costs From STEP 7.5 $491.14 /wk
WC Costs From STEP 4.1     + $123.50 /wk
TOTAL All Payroll Costs Earnings, Taxes, WC, Benefits & PTO = $614.64 /wk
TOTAL Hours From STEP 1.1 40.00 hrs
COST per hour For WC by Employee = $15.37 avg
STEP 9   SUMMARY                
9.1 Employee Earnings From STEP 2.4 = $400.00 /wk
9.2 WC by Employee Avg Cost per Hour From STEP 8.1 = $15.37 /hr
STEP 10   FOLLOW UP                
At this point, you have established the employee's average hourly cost under both the WC by Employee
and the WC by Cost Code methods.   You are now ready to utilize these average hourly costs to calculate
the costs of the individual time sheet entries, which will provide you with the figures to post your payroll
costs accurately.


 
Payroll Cost by Cost Code

These are the cost-per-hour calculations for a typical hourly employee, with scenarios for five different cost codes.


PAYROLL COST CALCULATIONS by COST CODE
STEP 1   ENTER BASIC DATA              
1.1 Hours TOTAL Hours Worked From Employee Time Sheet 40.00 hrs
1.2 Pay Rates Reg Hourly Rate From Employee Records $10.00 /hr
Overtime Hourly Rate From Employee Records $15.00 /hr
   OR OR
Annual Salary From Employee Records $0.00 /yr
1.3 Payroll Taxes FICA Rate From the IRS 7.65% rate
FUTA Rate From the IRS 0.80% rate
SUTA Rate From State Unemployment Office 2.40% rate
Other Taxes Varies 0.00% rate
1.4 WC Rates Experience Modifier From Insurance Agent 0.95 factor
Laborer Rate From Insurance Agent 20.50% rate
Framing Carpenter Rate From Insurance Agent 32.50% rate
Finish Carpenter Rate From Insurance Agent 19.50% rate
Supervisor Rate From Insurance Agent 8.90% rate
Office / Clerical Rate From Insurance Agent 1.20% rate
1.5 Benefits Insurance From Employee Records $125.00 /mth
Retirement From Employee Records $0.00 /mth
Child Care From Employee Records $0.00 /mth
Benefit 1 From Employee Records $0.00 /mth
Benefit 2 From Employee Records $0.00 /mth
1.6 Pd Time Off Average Hours/wk From Employee Records 40.00 hrs/wk
(PTO)
Company PTO From Employee Records + 40.00 hrs/yr
Employee PTO From Employee Records     + 40.00 hrs/yr
Annual PTO Hours Sum of all of the above = 80.00 hrs/yr
STEP 2   CALCULATE EMPLOYEE EARNINGS            
2.1 Regular Pay Regular Hourly Rate From STEP 1.2 $10.00 /hr
Regular Hours All Hours less than or equal to 40     x 40.00 hrs
TOTAL Regular Pay Regular Hours x Hourly Rate = $400.00 /wk
2.2 Overtime Pay Overtime Hourly Rate From STEP 1.2 $15.00 /hr
Overtime Hrs All Hours greater than 40 x 0.00 hrs
TOTAL Overtime Pay Overtime Hours x Overtime Rate = $0.00 /wk
2.3 Salary Annual Salary From STEP 1.2 $0 /yr
Weeks per Year Constant @ 52 wks per/yr 52 wks
TOTAL Salary Annual Salary 52 = $0.00 /wk
2.4 TOTAL EMPLOYEE EARNINGS From STEPS 2.1+2.2 or STEP 2.3 $400.00 /wk
STEP 3   CALCULATE PAYROLL TAXES              
3.1 FICA Employee Earnings From STEP 2.4 $400.00 /wk
FICA Rate From STEP 1.3 x 7.65% rate
TOTAL FICA Costs Employee Pay x FICA Rate = $30.60 /wk
3.2 FUTA Employee Earnings From STEP 2.4 $400.00 /wk
FUTA Rate From STEP 1.3 x 0.80% rate
TOTAL FUTA Costs Employee Pay x FUTA Rate = $3.20 /wk
3.3 SUTA Employee Earnings From STEP 2.4 $400.00 /wk
SUTA Rate From STEP 1.3 x 2.40% rate
TOTAL SUTA Costs Employee Pay x SUTA Rate = $9.60 /wk
3.4 Other Tax Employee Earnings From STEP 2.4 $400.00 /wk
Other Rate From STEP 1.3 x 0.00% rate
TOTAL Other Taxes Employee Pay x Other Tax Rate = $0.00 /wk
STEP 4   CALCULATE WC COSTS              
4.2 General Labor WC Rate From STEP 1.4 20.50% rate
WC Modifier From STEP 1.4 x 0.95 factor
Net WC Rate WC Rate x WC Modifier = 19.48% net rate
Emp Earnings From STEP 2.4     x $400.00 /wk
TOTAL WC Costs Employee Earnings x WC Rate = $77.90 /wk
4.3 Framing Carpentry WC Rate From STEP 1.4 32.50% rate
WC Modifier From STEP 1.4 x 0.95 factor
Net WC Rate WC Rate x WC Modifier = 30.88% net rate
Emp Earnings From STEP 2.4     x $400.00 /wk
TOTAL WC Costs Employee Earnings x WC Rate = $123.50 /wk
4.4 Finish Carpentry WC Rate From STEP 1.4 19.50% rate
WC Modifier From STEP 1.4 x 0.95 factor
Net WC Rate WC Rate x WC Modifier = 18.53% net rate
Emp Earnings From STEP 2.4     x $400.00 /wk
TOTAL WC Costs Employee Earnings x WC Rate = $74.10 /wk
4.5 Supervision WC Rate From STEP 1.4 8.90% rate
WC Modifier From STEP 1.4 x 0.95 factor
Net WC Rate WC Rate x WC Modifier = 8.46% net rate
Emp Earnings From STEP 2.4     x $400.00 /wk
TOTAL WC Costs Employee Earnings x WC Rate = $33.82 /wk
4.6 Office / Clerical WC Rate From STEP 1.4 1.20% rate
WC Modifier From STEP 1.4 x 0.95 factor
Net WC Rate WC Rate x WC Modifier = 1.14% net rate
Emp Earnings From STEP 2.4     x $400.00 /wk
TOTAL WC Costs Employee Earnings x WC Rate = $4.56 /wk
STEP 5   CALCULATE EMPLOYEE BENEFITS            
5.1 Insurance Monthly Cost From STEP 1.5 $125.00 /mo
Months per year Constant @ 12 months per/yr x 12 mts
Yearly Cost Monthly Cost x 12 months = $1,500.00 /yr
Weeks per year Constant @ 52 wks per/yr 52 wks
TOTAL Insurance Cost Yearly Cost 52 weeks = $28.85 /wk
5.2 Retirement Monthly Cost From STEP 1.5 $0.00 /mo
Months per year Constant @ 12 months per/yr x 12 mts
Yearly Cost Monthly Cost x 12 months = $0.00 /yr
Weeks per year Constant @ 52 wks per/yr 52 wks
TOTAL Retirement Cost Yearly Cost 52 weeks = $0.00 /wk
5.3 Child Care Monthly Cost From STEP 1.5 $0.00 /mo
Months per year Constant @ 12 months per/yr x 12 mts
Yearly Cost Monthly Cost x 12 months = $0.00 /yr
Weeks per year Constant @ 52 wks per/yr 52 wks
TOTAL Child Care Cost Yearly Cost 52 weeks = $0.00 /wk
5.4 Benefit 1 Monthly Cost From STEP 1.5 $0.00 /mo
Months per year Constant @ 12 months per/yr x 12 mts
Yearly Cost Monthly Cost x 12 months = $0.00 /yr
Weeks per year Constant @ 52 wks per/yr 52 wks
TOTAL Benefit 1 Cost Yearly Cost 52 weeks = $0.00 /wk
5.5 Benefit 2 Monthly Cost From STEP 1.5 $0.00 /mo
Months per year Constant @ 12 months per/yr x 12 mts
Yearly Cost Monthly Cost x 12 months = $0.00 /yr
Weeks per year Constant @ 52 wks per/yr 52 wks
TOTAL Benefit 2 Cost Yearly Cost 52 weeks = $0.00 /wk
STEP 6   CALCULATE PAID TIME OFF   (PTO)            
6.1 Basic Data Hourly Pay Rate From STEP 1.2 $10.00 /hr
Total Hours Worked From STEP 1.1     x 40.00 hrs
Earnings (no OT) Hourly Rate x Total Hours = $400.00 /wk
6.2 Payroll Taxes FICA From STEP 1.3 + 7.65% rate
FUTA From STEP 1.3 + 0.80% rate
SUTA From STEP 1.3 + 2.40% rate
Other Taxes From STEP 1.3 + 0.00% rate
SUBTOTAL Sum all of the above = 10.85% rate
Earnings (no OT) From STEP 6.1 x $400.00 /wk
TOTAL Payroll Taxes Payroll Tax Rate x Earnings = $43.40 /wk
6.3 Benefits Insurance From STEP 5.1 + $28.85 /wk
Retirement From STEP 5.2 + $0.00 /wk
Child Card From STEP 5.3 + $0.00 /wk
Benefits 1 From STEP 5.4 + $0.00 /wk
Benefits 2 From STEP 5.5 + $0.00 /wk
TOTAL Benefits Sum of all of the above = $28.85 /wk
6.4 Hourly Average Employee Earnings From STEP 6.1 + $400.00 /wk
Payroll Taxes From STEP 6.2 + $43.40 /wk
Benefits From STEP 6.3 + $28.85 /wk
TOTAL Payroll Costs Sum all of the above = $472.25 /wk
TOTAL Hours From STEP 1.1 40.00 hrs
Hourly Average Total Payroll Cost Total Hours = $11.81 /hr
6.5 Working Hours Avg Hrs/week From STEP 1.6 40.00 hrs
per Year Weeks per year Constant @ 52 wks per/yr x 52 wks
Annual Hrs Avg hrs/week x 52 weeks/yr = 2,080.00 hrs
Annual PTO Hrs From STEP 1.6     - 80.00 hrs
Productive Hrs Total Annual Hrs - Annual PTO hours = 2,000.00 hrs
6.6 PTO Base Cost Annual PTO hrs From STEP 1.6 80.00 hrs
Productive Hrs Total Annual Hrs - Annual PTO hours 2,000.00 hrs
Ratio Annual PTO Hrs Annual Working Hrs = 4.0000% ratio
TOTAL Payroll Costs From STEP 6.4     x $472.25 /wk
TOTAL PTO Cost Total Payroll Costs x Ratio = $18.89 /wk
6.8 PTO Cost using PTO Base Cost From STEP 6.6 $18.89 /wk
WC by Cost Code WC Rate From STEP 4.6 x 1.14% rate
PTO WC Cost PTO Base Cost x WC Rate = $0.22 /wk
PTO Base Cost From STEP 6.6 + $18.89 /wk
PTO Cost with WC PTO Base Cost + PTO WC Cost = $19.11 /wk
STEP 7   CALCULATE PAYROLL COSTS without WC            
7.1 Emp Earnings Regular & OT or Salary From STEP 2.4 = $400.00 /wk
7.2 Payroll Taxes FICA From STEP 3.1 + $30.60 /wk
FUTA From STEP 3.2 + $3.20 /wk
SUTA From STEP 3.3 + $9.60 /wk
Other From STEP 3.4 + $0.00 /wk
TOTAL Payroll Taxes Sum of all the above = $43.40 /wk
7.3 Benefits Insurance From STEP 5.1 + $28.85 /wk
Retirement From STEP 5.2 + $0.00 /wk
Child Care From STEP 5.3 + $0.00 /wk
Benefits 1 From STEP 5.4 + $0.00 /wk
Benefits 2 From STEP 5.5 + $0.00 /wk
TOTAL Benefits Sum of all the above = $28.85 /wk
7.4 PTO Costs TOTAL PTO Costs From STEP 6.6 = $18.89 /wk
7.5 TOTAL TOTAL Costs (no WC) Earnings, Taxes, Benefits & PTO = $491.14 /wk
STEP 8   CALCULATE TOTAL COST and COST per HOUR            
8.2 General Labor TOTAL All Other Costs From STEP 7.5 $491.14 /wk
WC Costs From STEP 4.2     + $77.90 /wk
TOTAL All Payroll Costs Earnings, Taxes, WC, Benefits & PTO = $569.04 /wk
TOTAL Hours From STEP 1.1 40.00 hrs
COST per hour For General Labor = $14.23 avg
8.3 Framing Carpentry TOTAL All Other Costs From STEP 7.5 $491.14 /wk
WC Costs From STEP 4.3     + $123.50 /wk
TOTAL All Payroll Costs Earnings, Taxes, WC, Benefits & PTO = $614.64 /wk
TOTAL Hours From STEP 1.1 40.00 hrs
COST per hour For Framing Carpentry = $15.37 avg
8.4 Finish Carpentry TOTAL All Other Costs From STEP 7.5 $491.14 /wk
WC Costs From STEP 4.4     + $74.10 /wk
TOTAL All Payroll Costs Earnings, Taxes, WC, Benefits & PTO = $565.24 /wk
TOTAL Hours From STEP 1.1 40.00 hrs
COST per hour For Finish Carpentry = $14.13 avg
8.5 Supervision TOTAL All Other Costs From STEP 7.5 $491.14 /wk
WC Costs From STEP 4.5     + $33.82 /wk
TOTAL All Payroll Costs Earnings, Taxes, WC, Benefits & PTO = $524.96 /wk
TOTAL Hours From STEP 1.1 40.00 hrs
COST per hour For Superintendents = $13.12 avg
8.6 Office / Clerical TOTAL All Other Costs From STEP 7.5 $491.14 /wk
WC Costs From STEP 4.6     + $4.56 /wk
TOTAL All Payroll Costs Earnings, Taxes, WC, Benefits & PTO = $495.70 /wk
TOTAL Hours From STEP 1.1 40.00 hrs
COST per hour For Office / Clerical work = $12.39 avg
STEP 9   SUMMARY                
9.1 Employee Earnings From STEP 2.4 = $400.00 /wk
9.3 General Labor Avg Cost per Hour From STEP 8.2 = $14.23 /hr
9.4 Frame Carpentry Avg Cost per Hour From STEP 8.3 = $15.37 /hr
9.5 Finish Carpentry Avg Cost per Hour From STEP 8.4 = $14.13 /hr
9.6 Supervision Avg Cost per Hour From STEP 8.5 = $13.12 /hr
9.7 Office/Clerical Avg Cost per Hour From STEP 8.6 = $12.39 /hr
STEP 10   FOLLOW UP                
At this point, you have established the employee's average hourly cost under both the WC by Employee
and the WC by Cost Code methods. You are now ready to utilize these average hourly costs to calculate
the costs of the individual time sheet entries, which will provide you with the figures to post your payroll
costs accurately.



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