Florida Teacher Certification Examinations (FTCE) Subject Area Practice Test

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Prepare for the FTCE exams with quizzes and multiple choice questions. Study effectively with hints and explanations to boost your score!

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If Company XYZ's total monthly payroll is $6,894, and $1,447.74 is designated for fringe benefits, what percentage of payroll is allocated to fringe benefits?

The correct answer is: 21%

To determine the percentage of total payroll allocated to fringe benefits, you need to use the formula for calculating a percentage: \[ \text{Percentage} = \left( \frac{\text{Part}}{\text{Whole}} \right) \times 100 \] In this case, the part is the amount designated for fringe benefits, which is $1,447.74, and the whole is the total monthly payroll, which is $6,894. Applying the values into the formula: \[ \text{Percentage} = \left( \frac{1,447.74}{6,894} \right) \times 100 \] Calculating this yields: \[ \text{Percentage} = (0.209) \times 100 = 20.9\% \] When rounding to the nearest whole number, this percentage is approximately 21%. Thus, the allocation of fringe benefits represents 21% of the total payroll. This aligns with the choice indicating that 21% of Company XYZ's payroll is designated for fringe benefits.