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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc6f999b7-6deb-4015-91d6-5f59e418959d%2Fa3feab16-ab17-44a0-a583-388213f6db18%2Fqhrdttc_processed.png&w=3840&q=75)
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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