Answer to Question #60322 in Finance for Wen
Total hours for the month=13,757
Overtime dollar percentage=26%
Would you be able to assist me in finding out how many more workers needed based on the above info? I don't know what formula to use?
I was thinking $1,020,000/74=$13,783 per ee / 26% = $53,014 / 160 = $331 / 8 = 41 employee?
If a worker should work 40 hours a week, then he should work 40*4 = 160 hours a months.
If total hours for the month are 13,757, then we need 13,757/160 = 85.98 = 86 workers to work without the overtime.
So, we need 86 - 74 = 12 more workers to hire.
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Great thanks for your advise!