Consolidated Industries, an 1, 800 employee firm, is faced with a serious and growing absenteeism problem. Last year, total employee hours lost to abseeteeism totaled 119,808. Of total employees absent, 65% were blue collar, (wage of 25.15 per hour), 25% were clerical (wage of 19.80 per hour) and the remainder were professional and management (average salary of 37.60 per hour). On average the firm spends 38% more of each employee's salary on benefits and as company policy, pays workers even if absent. The 45 supervisors (average salary of 29.35 per hour) involved in the employee absenteesim problems estimate that they lose 40 minutes per day for each of the 245 days per wrok year just dealing with the extra problems imposed by those who don't show up for work. The company estimates that it loses $729,500 in additional overtime premiums, in extra hired help, and in lost productivity from the more highly skilled abscenses. Estimate the cost of employee abseenteeism so that management can better understand the dimensions fo the problem.