Note: Round your answers to 2 decimal places.Yearly Benefit CostsMedical insuranceDental insuranceLife insuranceAD&DShort-term disabilityLong-term disabilityAnswer is not complete.CompanyCost (New)401(k)Social SecurityMedicareTuition reimbursementTotal yearly benefit costs (employer)Employee's annual salaryThe total value of employee's compensation69LA24$$69$$7,590.00178.25342.00171.0068.4034.201,761.302,350.0058,710.0058,710.00$69 69$$EmployeeCost (New)1,138.50178.2500004,696.800 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(Current)Employee Cost(Current)$ 6,600.00$ 990.00155.00155.00342.00171.0068.4034.20855.00Yearly Benefit CostsMedical insuranceDental insuranceLife insuranceAD&DShort-term disabilityLong-term disability401(k)Social SecurityMedicare.Tuition reimbursementTotal yearly benefit costs (employer)Employee's annual salaryThe total value of employee's compensationRequired:Compute the benefit analysis assuming:3,463.01809.902,350.00$14,848.5157,000.00$ 71,848.5100001,710.003,463.01809.900• 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 theemployer.15 percent increase in medical and dental insurance premiums.Note: Round your answers to 2 decimal places.

To reduce social security overpayment and unanticipated benefit loss, benefit analysis report…

Answered: Kai is the president of Zebra Antiques

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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