Question
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 CostsCompany Cost (Current)Employee Cost (Current)Medical insurance$6,300.00$945.00Dental insurance$140.00$140.00Life insurance$216.000AD&D$108.000Short-term disability$43.200Long-term disability$21.600401(k)$540.00$1,080.00Social Security$2,164.73$2,164.73Medicare$506.27$506.27Tuition reimbursement$2,200.000Total yearly benefit costs (employer)$12,239.80Employee's annual salary36,000.00Total value of employee's compensation$48,239.80
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.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started