Answered step by step
Verified Expert Solution
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 Employee Cost Medical insurance (Current) (Current) Dental insurance $ 6,900.00 $1,035.00 $ 170.00 Life insurance $ 170.00 $ 288.00 0 AD&D $ 144.00 Short-term disability $ 57.60 0 Long-term disability $ 28.80 401(k) $ 720.00 $1,440.00 Social Security $ 2,901.29 $2,901.29 Medicare $ 678.53 $ 678.53 Tuition reimbursement $ 2,500.00 0 Total yearly benefit costs employer) $14,388.22 48,000.0 Employee's annual salary $62,388.22 Total value of employee's compensation 0 0 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. . 7 percent increase in pay. 3 percent contribution to 401(k) will remain the same with a company match of so percent 10 percent increase in medical and dental insurance premiums. (Round your answers to 2 decimal places.) Company Cost (New) 0 0 0 0 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 Total value of employee's compensation 0 $ 0.00
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started