Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I'ive tried looking at the way others do their calculation but I'm still confused. Kai is the president of Zebra Antiques. An employee, Reese Francis,

I'ive tried looking at the way others do their calculation but I'm still confused.
image text in transcribed
image text in transcribed

Kai is the president of Zebra Antiques. An employee, Reese Francis, is due a raise. Reese's current benefit analysis is as follows: 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 The total value of employee's compensation Required: Compute the benefit analysis assuming: .3 percent increase in pay. Company Cost Employee Cost (Current) (Current) $ 7,700.00 $ 1,155.00 210.00 210.00 408.00 0 204.00 81.60 0 40.80 0 1,020.00 2,040.00 4,131.37 4,131.37 966.21 966.21 2,900.00 $ 17,661.98 68,000.00 $ 85,661.98 Reese will increase the 401(k) contribution to 8 percent with a company match of 50 percent up to 3 percent contribution by the employer. . 15 percent increase in medical and dental insurance premiums. Note: Round your answers to 2 decimal places.

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

Recommended Textbook for

Accounting What the Numbers Mean

Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,

9th Edition

978-0-07-76261, 0-07-762611-7, 9780078025297, 978-0073527062

More Books

Students also viewed these Accounting questions

Question

Describe the purpose and contents of system proposal.

Answered: 1 week ago