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Kai is the president of Zebra Antiques. An employee, Reese Francis, is due a raise. Reese'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: Company Cost Employee Cost (Current) (Current) $ 7,900.00 $ 1,185.00 220.00 220.00 420.00 210.00 Yearly Benefit Costs 84.00 42.00 1,050.00 4,252.89 994.63 3,000.00 $ 18,173.52 70,000.00 $ 88,173.52 Company Cost (New) • 3 percent increase in pay. • Reese will increase the 401(k) contribution to 8 percent with a company match of 50 percent up to 3 percent contribution by the employer. • 15 percent increase in medical and dental insurance premiums. Note: Round your answers to 2 decimal places. 0 0 0 0 2,100.00 4,252.89 994.63 0 Employee Cost (New)

Kai is the president of Zebra Antiques. An employee, Reese Francis, is due a raise. Reese'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: Company Cost Employee Cost (Current) (Current) $ 7,900.00 $ 1,185.00 220.00 220.00 420.00 210.00 Yearly Benefit Costs 84.00 42.00 1,050.00 4,252.89 994.63 3,000.00 $ 18,173.52 70,000.00 $ 88,173.52 Company Cost (New) • 3 percent increase in pay. • Reese will increase the 401(k) contribution to 8 percent with a company match of 50 percent up to 3 percent contribution by the employer. • 15 percent increase in medical and dental insurance premiums. Note: Round your answers to 2 decimal places. 0 0 0 0 2,100.00 4,252.89 994.63 0 Employee Cost (New)

FINANCIAL ACCOUNTING
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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Kai is the president of Zebra Antiques. An employee, Reese Francis, is due a raise. Reese'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 Company Cost Employee Cost (Current) (Current) $ 7,900.00 $ 1,185.00 220.00 220.00 420.00 210.00 84.00 42.00 Tuition reimbursement Total yearly benefit costs (employer) Employee's annual salary The total value of employee's compensation 1,050.00 4,252.89 994.63 3,000.00 $ 18,173.52 70,000.00 $ 88,173.52 ● 3 percent increase in pay. • Reese will increase the 401(k) contribution to 8 percent with a company match of 50 percent up to 3 percent contribution by the employer. 15 percent increase in medical and dental insurance premiums. Note: Round your answers to 2 decimal places. Company Cost (New) 2,100.00 4,252.89 994.63 0 Employee Cost (New) 0 0 0 0 0 0 0 0 0
Transcribed Image Text:Kai is the president of Zebra Antiques. An employee, Reese Francis, is due a raise. Reese'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 Company Cost Employee Cost (Current) (Current) $ 7,900.00 $ 1,185.00 220.00 220.00 420.00 210.00 84.00 42.00 Tuition reimbursement Total yearly benefit costs (employer) Employee's annual salary The total value of employee's compensation 1,050.00 4,252.89 994.63 3,000.00 $ 18,173.52 70,000.00 $ 88,173.52 ● 3 percent increase in pay. • Reese will increase the 401(k) contribution to 8 percent with a company match of 50 percent up to 3 percent contribution by the employer. 15 percent increase in medical and dental insurance premiums. Note: Round your answers to 2 decimal places. Company Cost (New) 2,100.00 4,252.89 994.63 0 Employee Cost (New) 0 0 0 0 0 0 0 0 0
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