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Southeast Technology provides postretirement health care benefits to employees. On January 1,2024 , the following plan-related data were available: On January 1, 2024, Southeast amends
Southeast Technology provides postretirement health care benefits to employees. On January 1,2024 , the following plan-related data were available: On January 1, 2024, Southeast amends the plan in response to spiraling health care costs. The amendment establishes an annual maximum of $3,800 for medical benefits that the plan will provide. The actuary determines that the effect of this amendment is to decrease the APBO by $96,000. Management amortizes prior service cost on a straight-line basis. The interest rate is 10%. The service cost for 2024 is $122,000. Required: 1. Complete the below table to calculate the prior service cost amortization for 2024 . 2. Complete the below table to calculate the postretirement benefit expense for 2024 . Complete this question by entering your answers in the tabs below. Complete the below table to calculate the prior service cost amortization for 2024. Note: Enter your answer in thousands rounded to 1 decimal place (i.e., 5,500 should be entered as 5.5). Southeast Technology provides postretirement health care benefits to employees. On January 1,2024 , the following plan-related data were available: On January 1, 2024, Southeast amends the plan in response to spiraling health care costs. The amendment establishes an annual maximum of $3,800 for medical benefits that the plan will provide. The actuary determines that the effect of this amendment is to decrease the APBO by $96,000. Management amortizes prior service cost on a straight-line basis. The interest rate is 10%. The service cost for 2024 is $122,000. Required: 1. Complete the below table to calculate the prior service cost amortization for 2024. 2. Complete the below table to calculate the postretirement benefit expense for 2024. Complete this question by entering your answers in the tabs below. Complete the below table to calculate the postretirement benefit expense for 2024 . Note: Enter your answer in thousands rounded to 1 decimal place (i.e., 5,500 should be entered as 5.5). Amounts to be deducted should be indicated with a minus sign
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