LO 6-5, 6-6 Oak Cove Resorts has eight employees. The owner wants to perform a benefit analysis

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LO 6-5, 6-6 Oak Cove Resorts has eight employees. The owner wants to perform a benefit analysis report for the year for one of its employees, Tristan Cassidy. Tristan’s benefits package is as follows:

Annual salary: $42,950 401(k) contribution: 8 percent of annual salary; the company match is half of the employee’s contribution, up to 5 percent of the employee’s annual salary.

Medical insurance deduction: $340 per month Dental insurance: $21 per month Complete the following Benefits Analysis Report for Tristan Cassidy for 2023.

Yearly Benefit Costs Company Cost Tristan’s Cost Medical insurance $9,600 $

Dental insurance 800 $

Life insurance 1,200 -0-

AD&D 125 -0-

Short-term disability 500 -0-

Long-term disability 250 -0-

401(k) $ $

Social Security $ $

Medicare $ $

Tuition reimbursement $2,500 -0-

Total yearly benefit costs $

Tristan’s annual salary $

Total value of Tristan’s compensation $

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Payroll Accounting 2024

ISBN: 9781266832352

10th International Edition

Authors: Jeanette Landin, Paulette Schirmer

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