Understanding Payroll Percentage Allocation for Teachers

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?

• A. 15%
• B. 21%
• C. 25%
• D. 30%

Answer: (B)

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.

Calculating payroll percentages can feel a bit like working through a maze, especially when you’re preparing for something as crucial as the Florida Teacher Certification Examinations (FTCE) Subject Area Test. But don't worry – once you get the hang of it, it's really pretty straightforward.

Let’s start with our scenario: If Company XYZ's total monthly payroll is $6,894, and they allocate $1,447.74 for fringe benefits, how do we determine what percentage of the payroll goes to these benefits? Seems a little tricky at first glance, right? But hang tight; I'll break it down for you in a way that makes sense.

First off, understanding percentages is all about context. You know what I mean? It’s like trying to eat a giant cake; you need to slice it right to figure out how much you want to serve. Here’s our piece to slice: The formula we’re using is:

[

\text{Percentage} = \left( \frac{\text{Part}}{\text{Whole}} \right) \times 100

]

In our example, the part designated for fringe benefits is $1,447.74, and the whole pie, or total payroll, is $6,894. Let’s take this information and plug it into the formula, shall we?

So, we set it up like this:

[

\text{Percentage} = \left( \frac{1,447.74}{6,894} \right) \times 100

]

When we actually calculate this, it feels like a little victory! The math yields:

[

\text{Percentage} = (0.209) \times 100 = 20.9%

]

Now, what’s next? Easy-peasy! We round it to the nearest whole number, which in this case is approximately 21%. So, just like that, we've discovered that fringe benefits at Company XYZ represent 21% of the total payroll.

Isn't it amazing how something that sounds complicated can really be broken down into steps that are more manageable? This knowledge isn’t just useful for exams; it's applicable in real-world settings too, especially for those of you looking to secure a position in education.

As you gear up for the FTCE, keep in mind that concepts like these can pop up not just in math-related sections but also in scenarios that require critical thinking. You might encounter questions that challenge you to analyze figures quickly—so practice will be your best friend.

Understanding how calculations like these work can not only aid you in the FTCE but also prepare you for managing classrooms with budgets down the line. So, let’s keep on learning and sharpening those skills. You've got this!