Claude Lopez is the president of Zebra Antiques. His employee, Dwight Francis, is due a raise. Dwight's current benefit analysis is asfollows:Yearly Benefit CostsMedical insuranceDental insuranceLife insuranceAD&DShort-term disabilityLong-term disability401(k)Social SecurityMedicareTuition reimbursementTotal yearly benefit costs (employer)Employee's annual salaryThe total value of employee's compensationRequired:Compute the benefit analysis assuming:Company Cost(Current)$ 6,400.00145.00228.00114.0045.6022.801,140.002,287.49534.982,250.00$ 13,167.8738,000.00$ 51,167.87Employee Cost(Current)$ 960.00145.0000002,280.002,287.49534.9803 percent increase in pay.• Dwight will increase his 401(k) contribution to 8 percent with a company match of 50 percent up to 6 percent of the employee'sannual salary.• 15 percent increase in medical and dental insurance premiums. Yearly Benefit CostsMedical insuranceDental insuranceLife insuranceAD&DShort-term disabilityLong-term disability401(k)Social SecurityMedicareTuition reimbursementTotal yearly benefit costs (employer)Employee's annual salaryThe total value of employee's compensationCompany Cost(New)Employee Cost(New)000

A cost-benefit analysis, assesses the benefits a new hire can bring to the company and consider this…

Claude Lopez is the president of Zebra Antiques. His employee, Dwight Francis, is due a raise. Dwight'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: Company Cost Employee Cost (Current) (Current) $ 6,400.00 145.00 228.00 114.00 45.60 22.80 1,140.00 2,287.49 534.98 2,250.00 $ 13,167.87 38,000.00 $ 51,167.87 $ 960.00 145.00 0 0 0 0 2,280.00 2,287.49 534.98 0 • 3 percent increase in pay. • Dwight will increase his 401(k) contribution to 8 percent with a company match of 50 percent up to 6 percent of the employee's annual salary. • 15 percent increase in medical and dental insurance premiums.

Claude Lopez is the president of Zebra Antiques. His employee, Dwight Francis, is due a raise. Dwight'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: Company Cost Employee Cost (Current) (Current) $ 6,400.00 145.00 228.00 114.00 45.60 22.80 1,140.00 2,287.49 534.98 2,250.00 $ 13,167.87 38,000.00 $ 51,167.87 $ 960.00 145.00 0 0 0 0 2,280.00 2,287.49 534.98 0 • 3 percent increase in pay. • Dwight will increase his 401(k) contribution to 8 percent with a company match of 50 percent up to 6 percent of the employee's annual salary. • 15 percent increase in medical and dental insurance premiums.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 15EA: In EA14, you prepared the journal entries for the employee of Toren Inc. You have now been given the...

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Claude Lopez is the president of Zebra Antiques. His employee, Dwight Francis, is due a raise. Dwight'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: Company Cost (Current) $ 8,000.00 120.00 300.00 150.00 60.00 30.00 750.00 3,018.16 705.86 $ 2,000.00 $ 15,134.02 50,000.00 $ 65,134.02 Employee Cost (Current) $ 1,200.00 120.00 0 0 0 0 1,500.00 3,018.16 705.86 0 • 3 percent increase in pay. • Dwight will increase his 401(k) contribution to 8 percent with a company match of 50 percent up to 6 percent of the employee's annual salary. • 15 percent increase in medical and dental insurance premiums. (Round your answers to 2 decimal places.)
Kai is the president of Zebra Antiques. An employee, Reese Francis, is due a raise. Reese's current benefit analysis is as follows: Company Cost (Current) Employee Cost (Current) $ 6,600.00 $ 990.00 155.00 155.00 342.00 171.00 68.40 34.20 855.00 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: 3,463.01 809.90 2,350.00 $14,848.51 57,000.00 $ 71,848.51 0 0 0 0 1,710.00 3,463.01 809.90 0 • 3 percent increase in pay. • 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.
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Critical Thinking 6 - 2 (Algo) 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 Company Cost (Current) Employee Cost (Current) Medical insurance $ 6,800.00 $ 1,020.00 Dental insurance 165.00 165.00 Life insurance 354.00 0 AD&D 177.00 0 Short-term disability 70.80 0 Long - term disability 35.40 0 401(k) 885.00 1, 770.00 Social Security 3, 584.53 3, 584.53 Medicare 838.32 838.32 Tuition reimbursement 2,450.00 0 Total yearly benefit costs (employer) $ 15,360.05 Employee's annual salary 59,000.00 The total value of the employee's compensation $ 74,360.05 Required: Compute the benefit analysis assuming: 3 percent increase in pay. Reese will increase the 401(k) contribution to 8 percent with a company match of 50 percent up to a 3 percent contribution by the employer. 15 percent increase in medical and dental insurance premiums. Note: Round your answers to 2 decimal places.\
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