Capital Construction employs 79 workers with a gross weekly payroll of $33,076.00. Fringe benefits are $32.98 per employee for dental insurance, $5.15 per employee for discount club membership and 6.6% of payroll for a pension plan. What is the total cost of fringe benefits? the options are:  a. 2183.02 b. 2605.42 c. 3012.27 d. 5195.29

Q: ABC Company provided the following information for the current year: Projected Benefit Obligation,…

A: Interest costs = Projected Benefit Obligation, January 1 x discount rate = 3500000 x 10% = 350,000

Q: The weekly payroll of Abkar Hardware includes 19 employees who earn $240 each. How much is the…

A: Medicare tax rate=1.45%

Q: A company had the following information about the company's defined-benefit pension plan:…

A: SOLUTION- PENSION EXPENSE-  IT IS THE AMOUNT THAT A BUSINESS CHARGES TO EXPENSE IN RELATION TO ITS…

Q: Presented below is information related to the pension plan of Sandhill Inc. for the year 2021. 1.…

A: CALCULATION OF PENSION EXPENSE SERVICE COST = $250000 INTEREST ON PROJECT BENEFIT OBLIGATION (10% X…

Q: Toren Inc. employs one person to run its solar management company. The employee's gross income for…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: The following information relates to the defined-benefit pension plan for the employees of a…

A: Expected rate of return:- The expected rate of return, or yield to maturity, on a bond is the return…

Q: ABC Company provided the following information for the current year: ·       Projected Benefit…

A: Interest costs = Projected Benefit Obligation, January 1 x discount rate = 3500000 x 10% = 350,000

Q: William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is…

A: Date Account Titles and Explanation Debit Credit   Payroll Tax Expense $6850…

Q: Record the payment in cash of all employer liabilities only on June 1.

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: An employee had the following details of compensation income in 2021: Regular compensation income…

A: All sorts of compensation, either in the form of wages and services, along with property, are…

Q: The following data are for the pension plan for the employees of R Company. 1/1/15 12/31/15 12/31/16…

A: Expected return=9,000,000*7%=630,000

Q: Cagayan Company provided the following information for the current year: January 1 Projected benefit…

A: Correct answer is 700,000   Projected benefit obligation at year end = Opening balance of PBO +…

Q: Nakajima Company provides its employees with vacation benefits and a defined contribution pension…

A:

Q: Strum Corp. has maintained a defined benefit pension plan for its employees for a number of years.…

A: Pension is defined as the fixed value delivered to an individual usually after retirement at a…

Q: Toren Inc. employs one person to run its solar management company. The employee's gross income for…

A:

Q: Gruber Enterprises started its defined benefit pension plan on January 1, Year 1. By the beginning…

A: Fair market value It is the price, an asset would be sold in an open market when certain covenants…

Q: William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is…

A: Employee wages earned over a two-week period = $250,000 Medicare Tax  = 1.5% Medicare Tax ($250000 *…

Q: A​ company's defined benefit pension plan had a projected benefit obligation​ (PBO) of​ $350,000 on…

A: Introduction: A projected benefit obligation (PBO) is the expected present value of an employee's…

Q: The Maggie Company has a defined benefit pension plan for its employees. The following information…

A: Ending projected benefit obligation = Beginning Projected benefit obligation + Service cost +…

Q: "Stone Corporation has 25 employees and incurs total wages and salaries expense of P9,000,000 per…

A: Given data, Number of employees=25 Total wages and salaries expense=P9,000,000 per year Cost of…

Q: For the current year, Clark Company has the following information. Beginning plan assets was $1,000,…

A: Defined Pension Obligation Defined pension obligation which is described as implemented scheme to…

Q: Martin Services Company provides its employees vacation benefits and a defined contribution pension…

A: INTRODUCTION: After retiring, the company makes a specified recurring payment to the employee. The…

Q: The last weekly payroll of Availble Temp Services was $35,110.00 for 55 employees. The company pays…

A: The following computations are done for Available temp Services to calculate the total cost fringe…

Q: Lemke Company sponsors a defined benefit pension plan for its employees. The following data relate…

A: 1.Prepare a pension worksheet presenting both years 2020 and 2021 and accompanying computations and…

Q: Toren Inc. employs one person to run its solar management company. The employee's gross income for…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: Martin Services Company provides its employees vacation benefits and a defined contribution pension…

A: Solution:- a) Preparation of the journal entry for the vacation pay as follows under:-

Q: Pearsall Company's defined benefit pension plan had a projected benefit obligation (PBO) of $265,000…

A: A projected benefit obligation is a measurement of what the company will need currently to cover its…

Q: The weekly payroll of Abkar Hardware includes 19 employees who earn $260 each. How much is the…

A: For Akbar Hardware, (a) Number of Employees = 19 (b) Payroll Frequency = Weekly (c) Earnings of each…

Q: BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its…

A: Answer : Date General Journal Debit Credit  Sep 30 Salaries expense 800.00     FICA—Social…

Q: Redmont Company's gross salaries and wages are $50,000, and it withholds $7,500 for income taxes and…

A: The journal entry would be: Date Account Titles and Explanations Debit Credit xxx Salary and…

Q: Blossom Company sponsors a defined benefit pension plan for its employees. The following data relate…

A: Pension worksheet is prepared by the companies for the recording of information related to the…

Q: to the employee. FICA Social Security and FICA Medicare match employee deductions. The employer is…

A: Journal entry: Journal entry is the book of original entry where first transactions are recorded in…

Q: East Coast DVD employs 54 workers with a gross biweekly payroll of $94,126.00. Fringe benefits are…

A: Number of workers = 54 Gross Biweekly payroll = 94,126 Fringe Benefit for life insurance = 14.18 per…

Q: Willamette Manufacturing estimated that its total payroll for the coming year would be $650,000. The…

A: rate of premium=0.3%

Q: Toren Inc. employs one person to run its solar management company. The employee’s gross income for…

A: FICA Social Security tax = gross income for the month x FICA Social Security tax rate = $4,708 x…

Q: Gretta's Emporium Corp. provides its employees with a defined benefit pension plan. The plan assets…

A: The reconciliation statement is as follows: Resultant table:

Q: William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is…

A: Accounts Debit Credit  Wages expense 250000     Social security tax payable (6% x $250000)…

Q: William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is…

A: Particular     Debit ($)       Credit ($)…

Q: During one pay period, Star Valley Company distributes $137,500 to employees as net pay. The income…

A: Employee benefit costs, including but not limited to workers' compensation, health, life, or other…

Q: PQR Company provided the following information for the current year: ·       Projected Benefit…

A: The current service cost is the employee expenses incurred for the current year.  Computation of…

Q: What is the pension expense at the end of 2021? What is the projected benefit obligation at the end…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Greenwell Ltd. located in Alberta has a workers' compensation premium rate of $4.55 per $100.00of…

A: Assessable earnings refers to the gross amount of earnings  earned by a worker or an individual up…

Q: Presented below is information related to the pension plan of Ivanhoe Inc. for the year 2021. 1.…

A: Given the following information: Service cost related to pension expense: $233,000 Projected…

Q: The following information relates to the defined-benefit pension plan for the employees of a…

A: We are provided with a year data (Opening and closing values) of the fair value of an asset,…

Q: William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is…

A: Social Security Tax Payable = wages x  Social security tax rate = $250,000 x 6% = $15,000

Q: Sheridan Company has 160 employees who are expected to receive benefits under the company's…

A: Average remaining service life per of the  employee  Formula = Expected future years of…

Q: Richmond Company's defined benefit pension plan had a Projected Benefit Obligation (PBO) of $250,000…

A: Projected benefit obligation represents the retirement benefits earned by the employees at the…

Q: Family Flowers employs 17 people, of whom 14 earn gross pay of $660.00 each and 3 earn gross pay of…

A: Number of people employed are 17 Out of which 14 earn $660 each and 3 earn $740 each.