How much can Kelly expect to be withheld from her paycheck each week for optional deductions? x Learning - Checkup7.Kelly's annual gross income is$32,000. She has elected toparticipate in health, disability,and life insurance at the followingcosts:HealthDisabilityLifeInsurance Insurance InsuranceAnnual cost$5,200$3,100S1,200Employer80%50%90%coversHow much can Kelly expect tobe withheld from herpaycheck each week foroptional deductions?

Answered: How much can Kelly expect to be…

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Accounting

How much can Kelly expect to be withheld from her paycheck each week for optional deductions?

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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Question

How much can Kelly expect to be withheld from her paycheck each week for optional deductions?

x Learning - Checkup
7.
Kelly's annual gross income is
$32,000. She has elected to
participate in health, disability,
and life insurance at the following
costs:
Health
Disability
Life
Insurance Insurance Insurance
Annual cost
$5,200
$3,100
S1,200
Employer
80%
50%
90%
covers
How much can Kelly expect to
be withheld from her
paycheck each week for
optional deductions?

Expert Solution

Step 1

Optional deduction from employee paycheck =

Health insurance +disability insurance +life insurance deduction

Weekly deduction =Total annual deduction /52

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