Christine Boone is an employee at Americamp Vehicles. She earns a salary of $35,450 annually, paid biweekly. She contributes to the following fringes benefits and other deducations:Medical insurance: $108 per pay periodDental insurance: $29 per pay period401(k): 5% of gross payUnion dues: $114 per monthAdditional withholding: $89 per monthRequired:What is the total annual amount of Christine's fringe benefits and other deductions? Round your answer to 2 decimal places.Medical insurancedental insurance401(k)union duesadditional withholdingTotal amount of Christine's fringe benefits and other deducations

Solution:- Calculation of the total annual amount of Christine's fringe benefits and other…

Answered: Christine Boone is an employee at…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Christine Boone is an employee at Americamp Vehicles. She earns a salary of $35,450 annually, paid biweekly. She contributes to the following fringes benefits and other deducations:

Medical insurance: $108 per pay period
Dental insurance: $29 per pay period
401(k): 5% of gross pay
Union dues: $114 per month
Additional withholding: $89 per month

Required:

What is the total annual amount of Christine's fringe benefits and other deductions? Round your answer to 2 decimal places.

Medical insurance
dental insurance
401(k)
union dues
additional withholding
Total amount of Christine's fringe benefits and other deducations

Definition Definition Benefits in addition to compensation that companies give to their employees. Fringe benefits can boost morale and productivity and keep employees motivated. Companies often use fringe benefits as a competitive advantage to recruit and retain employees. Examples of fringe benefits include pensions, vacation time, tuition reimbursement, free or subsidized meals, and gym memberships.

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