irk Mischner ow the employees, Arnold Bower, for the year. Arnold's benefits package is as follows: Buttons, which employs twenty-five people. ark wants to perform a benefits Annual salary: $60,000 401(k) contribution: 6 percent of annual salary. The company match is 75 percent of employee contribution up annual salary. Medical insurance deduction: $230 per month Dental insurance: $15 per month Required: Complete the following Benefits Analysis Report for Arnold Bower for the year. Do not include FUTA and SUT

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Park Mischner owns Old Times Buttons, which employs twenty-five people. Park wants to perform a benefits analysis report for one of
the employees, Arnold Bower, for the year. Arnold's benefits package is as follows:
Annual salary: $60,000
401(k) contribution: 6 percent of annual salary. The company match is 75 percent of employee contribution up to 4 percent employee
annual salary.
Medical insurance deduction: $230 per month
Dental insurance: $15 per month
Required:
Complete the following Benefits Analysis Report for Arnold Bower for the year. Do not include FUTA and SUTA taxes. (Round your
answers to 2 decimal places. Enter all amounts as positive values.)
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
Arnold's annual salary
Total value of Arnold's compensation
Company Cost Arnold's Cost
35,400.00
2,200.00
$
$
$
$
$
$
$
740.00 $
176.00 $
1,760.00 $
880.00 $
2,400.00 $
0.00
0.00
0.00
0.00
0.00
Transcribed Image Text:Park Mischner owns Old Times Buttons, which employs twenty-five people. Park wants to perform a benefits analysis report for one of the employees, Arnold Bower, for the year. Arnold's benefits package is as follows: Annual salary: $60,000 401(k) contribution: 6 percent of annual salary. The company match is 75 percent of employee contribution up to 4 percent employee annual salary. Medical insurance deduction: $230 per month Dental insurance: $15 per month Required: Complete the following Benefits Analysis Report for Arnold Bower for the year. Do not include FUTA and SUTA taxes. (Round your answers to 2 decimal places. Enter all amounts as positive values.) 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 Arnold's annual salary Total value of Arnold's compensation Company Cost Arnold's Cost 35,400.00 2,200.00 $ $ $ $ $ $ $ 740.00 $ 176.00 $ 1,760.00 $ 880.00 $ 2,400.00 $ 0.00 0.00 0.00 0.00 0.00
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