Question
Cullumber Company sponsors a defined benefit pension plan for its 600 employees. The companys actuary provided the following information about the plan. Cullumber Company sponsors
Cullumber Company sponsors a defined benefit pension plan for its 600 employees. The companys actuary provided the following information about the plan.
Cullumber Company sponsors a defined benefit pension plan for its 600 employees. The companys actuary provided the following information about the plan.
The average remaining service life per employee is 10.5 years. The service cost component of net periodic pension expense for employee services rendered amounted to $396,000 in 2020 and $472,000 in 2021. The accumulated OCI (PSC) on January 1, 2020, was $1,312,500. No benefits have been paid. (a) Compute the amount of accumulated OCI (PSC) to be amortized as a component of net periodic pension expense for each of the years 2020 and 2021.
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The average remaining service life per employee is 10.5 years. The service cost component of net periodic pension expense for employee services rendered amounted to $396,000 in 2020 and $472,000 in 2021. The accumulated OCI (PSC) on January 1, 2020, was $1,312,500. No benefits have been paid.
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