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The following data are available pertaining to Household Appliance Company's retiree health care plan for 2016: Number of employees covered 3 Years employed as of
| The following data are available pertaining to Household Appliance Company's retiree health care plan for 2016: |
| Number of employees covered | 3 | ||
| Years employed as of January 1, 2016 | 3 | [each] | |
| Attribution period | 25 | years | |
| Expected postretirement benefit obligation, Jan. 1 | $ | 66,000 | |
| Expected postretirement benefit obligation, Dec. 31 | $ | 69,000 | |
| Interest rate | 5 | % | |
| Funding | none | ||
| Required: |
| 1. | What is the accumulated postretirement benefit obligation at the beginning of 2016? |
| 2. | What is interest cost to be included in 2016 postretirement benefit expense? |
| 3. | What is service cost to be included in 2016 postretirement benefit expense? |
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