Masonry Magazine September 1969 Page. 37
an amount equal to that portion of any unpaid mortgage on the building that is allocated to the taxpayer's unit.
One further point, if the taxpayer lives in his cooperative apartment for at least 5 years during the 8 years preceding the sale of his apartment, he may, after he reaches 65, sell his stock and get a nonrecognition of any gain on the first $20,000 of the price realized on the sale of the stock.
Time Saver Idea
Deferred Wage Increase Package
There are a number of methods, based on varying approaches, for computing an average wage increase for a multi-year collective bargaining settlement that hikes wages at the beginning of each year it is in effect.
Two of these methods were noted in these columns. The example used there was a three-year settlement that increases wages by 16 cents an hour during the first year; by another 8 cents during the second year; and by still another 6 cents during the third year. Working with this hypothetical but not untypical data, it was demonstrated that in simple arithmetic terms the average annual rate of increase amounts to 10 cents an hour, and that by using another method you get a figure of 11.67 cents per year.
Both of these figures, however, fall considerably short of indicating the cumulative average hourly increase over the full life of the contract that is, from the first day of the first year through the last day of the third year in the example cited. Using the same annual increase data, an employee's actual average gain over the full three-year period- and an employer's average wage-cost-addition per employee -is 2315 cents an hour.
Here's how this average is determined. Consider that relative to their pre-settlement base pay, employees get 16 cents an hour more the first year; 24 cents an hour more the second year (16 plus 8); and 30 cents an hour more the third year (16 plus 8 plus 6). Adding all of the aggregate increases (16 plus 24 plus 30), and dividing the total (70) by the number of years the contract is in effect (3), determines the over-all, three-year average to be 231/3 cents an hour.
A mathematical formula for obtaining the same result is: x(a)+y(b)+z(c) / Q where x, y and z, respectively, equal the wage increase each year; where a, b and c, respectively, equal the number of years each increase is in effect; and where Q equals the number of years the contract is in effect.
(.16x3)+(.08x2)+(.06x1) / 3 = .70 / 3 = 235
This can be proved out arithmetically by assuming, plausibly, that an employee receiving such wage increases is credited with working forty hours a week for fifty-two weeks in each of the three years. The aggregate wage increases he then receives, relative to his pre-settlement base pay, are:
1st year: 164 x 2,080 hours, or ................................................. $ 332.80
2nd year: 24 x 2,080 hours, or ................................................. $ 499.20
3rd year: 304 x 2,080 hours, or ................................................. $ 624.00
Total ................................................................................. $1,456.00
This total dollar amount, divided by the total number of hours worked during the three years (6,240) equals 235 cents.
masonry September, 1969
SUPERIOR'S
801 REAL CLEAN + 700 ASTRO UNIT
GREATLY REDUCES THE COST OF
CLEANING MASONRY PRODUCTS
BEFORE
AFTER
700 ASTRO UNIT
CHEMICAL
THE ORIGINAL AND ONLY PROVEN
AUTOMATED CLEANING PROCESS
AVAILABLE TO THE MARKET TODAY
The day of acids is no more. Through chemical research, we now can control the cleaning of masonry to meet the most exacting and demanding specifications. No more acid burn, discoloration of light brick or damage to metal. "801" Real Clean-The cleaner with a 1000 and 1 uses-will produce equal results either by hand or using Superior High Pressure Washing Equipment.
DEALERSHIPS NOW AVAILABLE
FOR DETAILS WRITE ME TODAY
Robert G. Lusby, National Sales Manager
Superice Manufacturing Corp.
1054 FLORIDA ST. MEMPHIS, TENN. 38102
37