Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Claude Lopez is the president of Zebra Antiques. His employee, Dwight Francis, is due a raise. Dwight's current benefit analysis is as follows: Yearly Benefit

Claude Lopez is the president of Zebra Antiques. His employee, Dwight Francis, is due a raise. Dwight's current benefit analysis is as follows: Yearly Benefit Costs Company Cost (Current) Employee Cost (Current) Medical insurance $ 7,000.00 $ 1,050.00 Dental insurance $ 175.00 $ 175.00 Life insurance $ 300.00 0 AD&D $ 150.00 0 Short-term disability $ 60.00 0 Long-term disability $ 30.00 0 401(k) $ 750.00 $ 1,500.00 Social Security $ 3,024.05 $ 3,024.05 Medicare $ 707.24 $ 707.24 Tuition reimbursement $ 2,550.00 0 Total yearly benefit costs (employer) $ 14,746.29 Employees annual salary 50,000.00 Total value of employees compensation $ 64,746.29 Required: Compute the benefit analysis assuming: 7 percent increase in pay. 3 percent contribution to 401(k) will remain the same with a company match of 50 percent. 10 percent increase in medical and dental insurance premiums. (Round your answers to 2 decimal places.) Next Visit question mapQuestion 1 of 15 Total1 of 15 Prev

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