Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

[0/1 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 9.111.015. MY NOTES ASK YOUR TEACHER g Suppose you are the human resource manager for a cellular phone company

image text in transcribed

[0/1 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 9.111.015. MY NOTES ASK YOUR TEACHER g Suppose you are the human resource manager for a cellular phone company with 900 employees. Top management has asked you to implement three additional fringe benefits that were negotiated with employee representatives and agreed upon by a majority of the employees. These include group term life insurance, a group legal services plan, and a wellness center. The life insurance is estimated to cost $520 per employee per quarter. The legal plan will cost $312 semiannually per employee. The company will contribute 40% to the life insurance premium and 75% to the cost of the legal services plan. The employees will pay the balance through payroll deductions from their biweekly paychecks. In addition, they will be charged 1% of their gross earnings per paycheck for maintaining the wellness center. The company will pay the initial cost of $600,000 to build the center. This expense will be spread over 5 years. BO 60 90 E) PE Ar W 50 00 00 00 (a) What total amount should be deducted per paycheck for these new fringe benefits for an employee earning $93,600 per year? $ 136.50 x s & Consumers. blicly accessible w (b) What is the total annual cost of the new fringe benefits to the company? $ 728,400 x ntage Submit Assignment Save Assignment Progress wroll Power Point (2) Show all X pe here to search 11:10 AM 9/12/2020 199+ AO (4) ENG 19

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions