Kai is the president of Zebra Antiques. An employee, Reese Francis, is due a raise. Reese's current benefit analysis is as follows: Company Cost Employee Cost (Current) (Current) $ 7,700.00 $ 1,155.00 210.00 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: 210.00 408.00 204.00 81.60 40.80 1,020.00 4,131.37 966.21 2,900.00 $ 17,661.98 68,000.00 $ 85,661.98 0 0 0 0 2,040.00 4,131.37 966.21 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.
Kai is the president of Zebra Antiques. An employee, Reese Francis, is due a raise. Reese's current benefit analysis is as follows: Company Cost Employee Cost (Current) (Current) $ 7,700.00 $ 1,155.00 210.00 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: 210.00 408.00 204.00 81.60 40.80 1,020.00 4,131.37 966.21 2,900.00 $ 17,661.98 68,000.00 $ 85,661.98 0 0 0 0 2,040.00 4,131.37 966.21 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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:
Company Cost Employee Cost
(Current)
(Current)
$ 7,700.00
$ 1,155.00
210.00
210.00
408.00
204.00
81.60
40.80
1,020.00
4,131.37
966.21
2,900.00
$ 17,661.98
68,000.00
$ 85,661.98
0
0
0
0
2,040.00
4,131.37
966.21
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.
Transcribed Image Text:Note: 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
Company Cost
(New)
Employee Cost
(New)
0
0
0
0
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