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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 (Current) $ 7,400.00 195.00 390.00 195.00 78.00 39.00 975.00 3,949.09 923.58 2,750.00 $ 16,894.67 65,000.00 $ 81,894.67 Employee Cost (Current) $ 1,110.00 195.00 0 0 0 0 1,950.00 3,949.09 923.58 0 • 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.

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 (Current) $ 7,400.00 195.00 390.00 195.00 78.00 39.00 975.00 3,949.09 923.58 2,750.00 $ 16,894.67 65,000.00 $ 81,894.67 Employee Cost (Current) $ 1,110.00 195.00 0 0 0 0 1,950.00 3,949.09 923.58 0 • 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.

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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• 15 percent increase in medical and dental insurance premiums. 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 Employee Cost (New) (New) < Prev ………………… 1 of 10 0 0 0 0 0 Next >
Transcribed Image Text:• 15 percent increase in medical and dental insurance premiums. 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 Employee Cost (New) (New) < Prev ………………… 1 of 10 0 0 0 0 0 Next >
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) $ 7,400.00 Employee Cost (Current) 195.00 390.00 195.00 78.00 39.00 975.00 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: 3,949.09 923.58 2,750.00 $ 16,894.67 65,000.00 $ 81,894.67 $ 1,110.00 195.00 0 0 0 0 1,950.00 3,949.09 923.58 0 • 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.
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: Company Cost (Current) $ 7,400.00 Employee Cost (Current) 195.00 390.00 195.00 78.00 39.00 975.00 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: 3,949.09 923.58 2,750.00 $ 16,894.67 65,000.00 $ 81,894.67 $ 1,110.00 195.00 0 0 0 0 1,950.00 3,949.09 923.58 0 • 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.
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