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Park Mischner owns Old Times Buttons, which employs twenty-four people. Park wants to perform a benefits analysis report for one of the employees, Arnold
Park Mischner owns Old Times Buttons, which employs twenty-four people. Park wants to perform a benefits analysis report for one of the employees, Arnold Bower, for the year. Arnold's benefits package is as follows: Annual salary: $58,000 401(k) contribution: 6 percent of annual salary. The company match is 75 percent of employee contribution up to 4 percent employee annual salary. Medical insurance deduction: $230 per month Dental insurance: $15 per month Required: Complete the following Benefits Analysis Report for Arnold Bower for the year. Do not include FUTA and SUTA taxes. (Round your answers to 2 decimal places. Enter all amounts as positive values.) Yearly Benefit Costs Company Cost Arnold's Cost Medical insurance $ 34,020.00 Dental insurance $ 2,110.00 Life insurance $ 710.00 $ 0.00 AD&D $ 169.00 $ 0.00 Short-term disability $ 1,690.00 $ 0.00 Long-term disability $ 845.00 $ 0.00 401(k) Social Security Medicare Tuition reimbursement Total yearly benefit costs Arnold's annual salary Total value of Arnold's compensation $ 2,320.00 $ 0.00
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