DSD Corp. has the following salary information for 3 employees: Employee Years Worked Avg. Salary last 3 years of service Career avg. salary Sheila 15 $45,000 $40,000 Jake 20 $150,000 $110,000 Bobby 25 $325,000 $200,000 If relevant, the annual payout is 5%, and the annual benefit is $3,000 per year of service Calculate the annual benefit for each employee assuming Final pay formula

Louie Company has a defined benefit pension plan. On December 31 (the end of the fiscal year), the company received the PBO report from the actuary. The following information was included in the report ending PBO, $110,000; benefits paid to retirees, $10,000; Iinterest cost, $8,000. The discount rate applied by the actuary was 8%. What was the service cost for the year? Multiple Choice $18,000. $92,000. $2,000. $12,000. 19 of 39 Next > < Prev 7 Question no....pages Rook Air

Your employer uses a final pay benefit formula to determine retirement payments to its employees. The employee receives an annual benefit of 3% of her average salary during her last 5 years of service times her total years employed. If she has 25 years of total service and her average salary over her last 5 years was $75,000, calculate her annual retirement benefit.

Martin Services Company provides their employees vacation benefits and a defined contribution pension plan. Employees earned vacation pay of $39,500 for the period. The pension plan requires a contribution to the plan administrator equal to 9% of employee salaries. Salaries were $750,000 during the period. Hide a. Provide the journal entry for the vacation pay. Hide b. Provide the journal entry for the pension benefit.

Consider the raise (in dollars) that an employee making $21,000 would receive. Estimate the raise by completing the following sentences. If an employee made half of $28,000, or $14,000, they would receive a raise that is  half $1,000. Therefore, since $21,000 is between $14,000 and $28,000  , the employee making $21,000 would receive a raise that is betwen $500 and $1,000. What fraction of $28,000 is $21,000?     B. Consider the raise (in dollars) that an employee making $35,000 would receive. Estimate the raise by completing the following sentences. If an employee made one and a half times $28,000, or $42,000, they would receive a raise that is one and a half times $1,000. Therefore, since $35,000 is between $28,000 and $42,000, the employee making $35,000 would receive a raise that is between $1,000 and $1,500.   What fraction of $28,000 is $35,000?    Determine the actual raise (in dollars).     C. Consider the raise (in dollars) that an employee making $27,050 would receive. The…

An employee who earned a salary of $4,000 per month was startled at how low his net pay was. The Payroll Department provided the following information: CPP: $100 each (employee and employer EI: $80 re employee. $112 re emplyer Income tax $750 Union dues $50 Charitable donation $25 Vacation pay accrued $240 Calculate the employee’s net pay.   Select answer from the options below $2,783 $2,995 $2,775 $2,543

Avon Corporation sells phone cases to public and private companies. They are located at 123 Locus Rd, Markham, ON. They employ 200 full time employees who work in sales, customer service and office support roles.   They have had an annual remuneration of over $1,000,000 for the past several years therefore their EHT rate is 1.95%.   Pay period #1 started December 27, 2020. All are paid on a bi-weekly basis. All benefits are processed each pay on an as enjoyed basis. The first pay day for employees is Jan 13, 2021.   They have three staff in the Customer Service Department answering questions from clients and the general public. They all work Monday to Friday and do not work statutory holidays but are paid for them. Neema has been with Avon for 3 years and answers calls specifically from clients. She earns $18.25 per hour and works 35 hours per week. She also does not work any overtime. She is paid bi-weekly. Her employer provides the following: ·        Health and Dental - at a total…

Supermarket Caridad offers its employees vacation benefits and contributes a 2% contribution to a 401K. The employees had total wages of $ 125,000 and vacation benefits of $ 28,460. Calculate how much the employer contributes for the 401k.Make the wage entries related to vacation pay.Make the wage entries related to the 401K contribution.

Employee Net Pay Kenneth Inverness's weekly gross earnings for the week ended April 22 were $1,000, and his federal income tax withholding was $180. Assuming the social security rate is 6% and Medicare is 1.5%, what is Kenneth's net pay? Note: If required, round your answer to two decimal places. All work saved.

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: $15 per month Required: Complete the following Benefits Analysis Report for Arnold Bower for the year. Do not include FUTA and SUTA taxes. (Round your answers to 2 decimal places. Enter all amounts as positive values.) Yearly Benefit Costs Company Cost Arnold's Cost Medical insurance 2$ 34,020.00 Dental insurance $ 2,110.00 Life insurance $ 710.00 $ 0.00 AD&D 2$ 169.00 $ 0.00 Short-term disability $ 1,690.00 $ 0.00 Long-term disability 401(k) 2$ 845.00 2$ 0.00 Social Security Medicare Tuition reimbursement 2$ 2,320.00 $ 0.00 Total yearly benefit…