How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Stevewh Your Own Question

Stevewh
Stevewh,
Category: Finance
Satisfied Customers: 7484
Type Your Finance Question Here...
Stevewh is online now
A new question is answered every 9 seconds

Hi, This is not homework but a business math problem. I am

Resolved Question:

Hi, This is not homework but a business math problem. I am trying to figure out what it costs me to put an Ironworker on the job. I have all the taxes, workers comp, unemployment etc, but I can't figure out the rate for my liability insurance.

What I pay for my liability insurance is figured by what my payroll cost is.
Here is what I know.
The hourly rate of an ironworker is $31.85 per hour
I pay $1,703 per $25,000 of payroll

So what am I paying for insurance per man hour.

I can't say the guy works 40 hours a week for a year. I hire different men out of the hall and they work when I have a job.
Submitted: 7 months ago.
Category: Finance
Expert:  Stevewh replied 7 months ago.
Hi,

I think you need the total cost per hour = $31.85+ payroll cost

In that case payroll cost per hour is:

(1703/25000) 31.85 = 2.17 (rounded to the nearest cent)

So total cost per hour is: $31.85 + $2.17 = $34.02

Is that what you wanted ?

Thanks

Customer: replied 7 months ago.

No, I don't think so, or I still don't understand.


My hourly cost for a man is $31.85


To that I need to add the cost of my liability insurance. Are you saying the liability insurance costs me $2.17 per man hour? And if so how did you figure that out so when my rate changes I can do it myself. Thanks

Expert:  Stevewh replied 7 months ago.
yes,

If you pay $1,703 per $25,000

you pay (1703/25000)31.85 for an amount of 31.85

(1703/25000)31.85 = 2.17

If you have another amount (x)

Just compute (1703/25000)x

Stevewh,
Category: Finance
Satisfied Customers: 7484
Experience: 
Stevewh and 3 other Finance Specialists are ready to help you
Customer: replied 7 months ago.

Yes, Yes, Yes Got it. Thank You!


Just wanted you to know I have asked an Accountant, an Engineer, and a Computer Geek. All gave me different answers.


At least I knew enough to know that I Did Not Know the answer.


Thank you.


How do I connect or request you again if I have more questions?


Thanks


Betty

Expert:  Stevewh replied 7 months ago.
Just write "For Steve" next time

Thanks
Customer: replied 7 months ago.

thanks. Have a great night

Expert:  Stevewh replied 7 months ago.
Have a good night too

Remember to rate my answer

Thanks

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
< Last | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie Chesnee, SC
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John Minneapolis, MN
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville Hesperia, California
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
 
 
 

Meet The Experts:

 
 
 
  • Manal Elkhoshkhany's Avatar

    Manal Elkhoshkhany

    Tutor

    Satisfied Customers:

    1885
    More than 5000 online tutoring sessions.
< Last | Next >
  • http://ww2.justanswer.com/uploads/BU/BusinessTutor/2012-2-2_115741_Kouki2.64x64.jpg Manal Elkhoshkhany's Avatar

    Manal Elkhoshkhany

    Tutor

    Satisfied Customers:

    1885
    More than 5000 online tutoring sessions.
  • http://ww2.justanswer.com/uploads/RA/rakhi.v/2012-7-3_14374_RakhiVasavadaL.64x64.jpeg Rakhi Vasavada's Avatar

    Rakhi Vasavada

    Financial and Legal Consultant

    Satisfied Customers:

    1853
    Graduated in law with Emphasis on Finance and have have been working in financial sector for over 8
  • http://ww2.justanswer.com/uploads/MY/MyVirtualCPA/2012-7-5_44024_cookmegan1.64x64.jpg Megan C's Avatar

    Megan C

    CPA, CMA, CFE

    Satisfied Customers:

    1051
    Licensed CPA, CFE, CMA who teaches accounting courses at Master's Level
  • http://ww2.justanswer.com/uploads/JK/jkcpa/2011-1-16_182614_jkcpa.64x64.jpg JKCPA's Avatar

    JKCPA

    CPA

    Satisfied Customers:

    836
    Bachelors degree and CPA with Accounting experience.
  • http://ww2.justanswer.com/uploads/starside8/2010-2-16_55433_DSCN1175.JPG Eric's Avatar

    Eric

    Financial Manager

    Satisfied Customers:

    558
    Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.
  • http://ww2.justanswer.com/uploads/FA/fastfile/2011-12-15_23139_Klein2011small.64x64.jpg R. Klein, EA's Avatar

    R. Klein, EA

    Accountant

    Satisfied Customers:

    394
    Intuit Ask a Tax Expert. QuickBooks Certified Pro Advisor (all editions)
  • http://ww2.justanswer.com/uploads/dkaplun/2009-05-17_173121_headshot_1_2.jpg Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.

    Attorney

    Satisfied Customers:

    313
    NASD Licensed Rep, 1997-2001, Business Attorney