The prevailing wage rate shall be a weighted average of the total wage-fringe benefit packages for all journeyman hours submitted by contractors.
To see how different factors can influence the prevailing wage rate, we have created this flowchart that will take you through the prevailing wage process.
Example
Assume that 2,500 hours are submitted for the occupational title of "Laborers" for a county in Missouri. The hours submitted include:
| Hours | Wage-Fringe Benefit Package | Hourly Rate |
|---|---|---|
| 1,500 | Total Package | $45.00 |
| 300 | Total Package | $38.00 |
| 200 | Total Package | $35.00 |
| 200 | Total Package | $31.00 |
| 2,200 Total Hours |
Prevailing Wage Calculation
200 hours of apprentice wages and 100 hours of OJT wages are excluded, resulting in a new total of 2,200 hours.
1,500 hours x $45.00 = $67,500
300 hours x $38.00 = $11,400
200 hours x $35.00 = $7,000
200 hours x $31.00 = $6,200
2,200 total hours = $92,100
$92,100/2,200 hours = $41.86/hour
Calculated Prevailing Wage: $41.86