Presentation on theme: "Employee Benefits Companies must consider many personnel costs. These costs include employee benefits, such as health insurance and vacation days. What."— Presentation transcript:
Employee Benefits Companies must consider many personnel costs. These costs include employee benefits, such as health insurance and vacation days. What are other employee benefits?
Lesson Objective Calculate total business travel expenses. Content Vocabulary travel expenses Costs required for business travel, such as transportation, lodging, and meals, which are often reimbursed by a company.
The accounting department for Diversified Sales Company will reimburse Roger Martin for attending a 3-day marketing conference. He drove to the conference, so Diversified will pay him $0.35 per mile. Martins expenses included the following: Example 1
Example 1 (cont.) What is the total cost of sending Martin to the conference?
Find the cost of transportation. (240 × $0.35) + $7.20 $84.00 + $7.20 = $91.20 Example 1 Answer: Step 1
Find the cost of lodging. 2 × $174.50 = $349.00 Example 1 Answer: Step 2
Find the cost of meals. $29.12 + $48.20 + $19.37 = $96.69 Example 1 Answer: Step 3
Find the additional costs. Conference registration = $95.00 Example 1 Answer: Step 4
Find the total travel costs. Cost of + Cost of + Cost of + Additional Transportation Lodging Meals Costs $91.20 + $349.00 + $96.69 + $95.00 = $631.89 Example 1 Answer: Step 5
Joseph Sandis recently traveled out of town for a sales conference. His travel expenses included $358 for airfare and a car rental for 4 days at $24.25 a day plus a fuel charge of $16. His hotel bill was $429.60 and his meals cost $84.38. What was Sandis total travel expense? Practice 1