Claude Lopez is the president of Zebra Antiques. His employee, Dwight Francis, is due a raise. Dwight's current benefit analysis is as follows: Yearly Benefit Costs Medical insurance Dental insurance Life insurance AD&D Short-term disability Long-term disability 401(k) Social Security Medicare Tuition reimbursement Total yearly benefit costs (employer) Employee's annual salary The Total value of employee's compensation Required: Compute the benefit analysis assuming: Yearly Benefit Costs Medical insurance Dental insurance Life insurance AD&D Short-term disability Long-term disability 401(k) Social Security Medicare Tuition reimbursement Total yearly benefit costs (employer) Employee's annual salary The Total value of employee's compensation $ $ $ $ $ $ Company Cost Employee Cost (Current) (Current) $ 8,000.00 120.00 300.00 150.00 60.00 30.00 750.00 Company Cost (New) $ 3,018.16 705.86 $ 2,000.00 $ 15,134.02 50,000.00 $ 65,134.02 3 percent increase in pay. • Dwight will increase his 401(k) contribution to 8 percent with a company match of 50 percent up to 6 percent of the employee's annual salary. • 15 percent increase in medical and dental insurance premiums. (Round your answers to 2 decimal places.) $ $ 9,200.00 $ 138.00 $ 300.00 150.00 60.00 30.00 2,000.00 Employee Cost (New) 51,500.00 51,500.00 $ 1,200.00 120.00 1,380.00 138.00 0 0 0 0 0 0 0 0 0 1,500.00 3,018.16 705.86 0
Claude Lopez is the president of Zebra Antiques. His employee, Dwight Francis, is due a raise. Dwight's current benefit analysis is as follows: Yearly Benefit Costs Medical insurance Dental insurance Life insurance AD&D Short-term disability Long-term disability 401(k) Social Security Medicare Tuition reimbursement Total yearly benefit costs (employer) Employee's annual salary The Total value of employee's compensation Required: Compute the benefit analysis assuming: Yearly Benefit Costs Medical insurance Dental insurance Life insurance AD&D Short-term disability Long-term disability 401(k) Social Security Medicare Tuition reimbursement Total yearly benefit costs (employer) Employee's annual salary The Total value of employee's compensation $ $ $ $ $ $ Company Cost Employee Cost (Current) (Current) $ 8,000.00 120.00 300.00 150.00 60.00 30.00 750.00 Company Cost (New) $ 3,018.16 705.86 $ 2,000.00 $ 15,134.02 50,000.00 $ 65,134.02 3 percent increase in pay. • Dwight will increase his 401(k) contribution to 8 percent with a company match of 50 percent up to 6 percent of the employee's annual salary. • 15 percent increase in medical and dental insurance premiums. (Round your answers to 2 decimal places.) $ $ 9,200.00 $ 138.00 $ 300.00 150.00 60.00 30.00 2,000.00 Employee Cost (New) 51,500.00 51,500.00 $ 1,200.00 120.00 1,380.00 138.00 0 0 0 0 0 0 0 0 0 1,500.00 3,018.16 705.86 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
3
Transcribed Image Text:Claude Lopez is the president of Zebra Antiques. His employee, Dwight Francis, is due a raise. Dwight's current benefit analysis is as
follows:
Yearly Benefit Costs
Medical insurance
Dental insurance
Life insurance
AD&D
Short-term disability
Long-term disability
401(k)
Social Security
●
Medicare
Tuition reimbursement
Total yearly benefit costs (employer)
Employee's annual salary
The Total value of employee's compensation
Required:
Compute the benefit analysis assuming:
15 percent increase in medical and dental insurance premiums.
(Round your answers to 2 decimal places.)
Yearly Benefit Costs
Medical insurance
Dental insurance
Life insurance
AD&D
Short-term disability
Long-term disability
401(k)
Social Security
Medicare
Tuition reimbursement
Total yearly benefit costs (employer)
Employee's annual salary
The Total value of employee's compensation
• 3 percent increase in pay.
Dwight will increase his 401(k) contribution to 8 percent with a company match of 50 percent up to 6 percent of the employee's
annual salary.
Company Cost
(Current)
$ 8,000.00
120.00
300.00
150.00
60.00
30.00
750.00
3,018.16
705.86
$ 2,000.00
$ 15,134.02
50,000.00
$ 65,134.02
Company Cost
(New)
$
$
$
$
$
$
$
$
$
9,200.00 $
138.00 $
300.00
150.00
60.00
30.00
2,000.00
Employee Cost
(Current)
51,500.00
51,500.00
Employee Cost
(New)
$ 1,200.00
120.00
1,380.00
138.00
0
0
0
0
0
0
0
0
0
1,500.00
3,018.16
705.86
0
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 5 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education