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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 $ 7,100.00 $ 1,065.00
Dental insurance 180.00 180.00
Life insurance 312.00 0
AD&D 156.00 0
Short-term disability 62.40 0
Long-term disability 31.20 0
401(k) 1,560.00 3,120.00
Social Security 3,146.81 3,146.81
Medicare 735.95 735.95
Tuition reimbursement 2,600.00 0
Total yearly benefit costs (employer) $ 15,884.36
Employees annual salary 52,000.00
The total value of employees compensation $ 67,884.36

Required:

Compute the benefit analysis assuming:

  • 3 percent increase in pay.
  • Dwight will increase his 401(k) contribution to 8 percent with a company match of 50 percent up to 6 percent of the employee's annual salary.
  • 15 percent increase in medical and dental insurance premiums.

(Round your answers to 2 decimal places.)

YEARLY BENEFIT COSTS COMPANY COST (NEW) EMPLOYEE COST (NEW)
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

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