Oak Cove Resorts has 7 employees. The owner wants to perform a benefits analysis report for the year for one of its employees, Tristan Cassidy. Tristan's benefits package is as follows:

Annual salary: $43,100

401(k) contribution: 8 percent of annual salary, the company match is half of the employee's contribution, up to 5 percent of the employee's annual salary.

Medical insurance deduction: $343 per month

Dental insurance: $24 per month

Required:

Complete the following Benefits Analysis Report for Tristan Cassidy for 2022.

Note: Round your answers to 2 decimal places. Enter all amounts as positive values.

How to calculate 401K contribution that will be paid by the employer and by the employee?