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
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- 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 Career average formula . A. Employee Annual Benefit Sheila $30,000 Jake $140,000 Bobby $250,000 B. Employee Annual Benefit Sheila $30,000 Jake $140,000 Bobby $150,000 C. Employee Annual Benefit Sheila $45,000 Jake $55,000 Bobby $75,000 D. Employee Annual Benefit Sheila $45,000 Jake $60,000 Bobby $75,000DSD Corp. has the following salary information for an employee: Employee Years Worked Average Salary last 3 years of service Career average salary Sheila 28 $326,000 $131,000 If relevant, the annual payout is 9 percent, and the annual benefit is $7,000 per year of service, calculate the annual benefit for Sheila assuming the Flat Benefit Formula is used. (Do not round intermediate calculations. Round your answer to a whole number.)An employee is entitled with monthly salary of TK. 50,000. The company has a policy to provide 10 % yearly increment. If the performance of the employee and organizational performance are both excellent, what would be the employee awards according to merit-based pay plan? Please consider the following table to calculate the total increment in that year.
- An employer uses a final pay formula to determine retirement payouts to its employees. The annual payout is 5 percent of the average salary over the employees’ last three years of service times the total years employed. Calculate the annual benefit under the following scenarios. Years Worked Average Salary during the Last Three Years of Service 17 $ 54,000 20 $ 61,000 22 $ 64,0001. a) Differentiate vesting sick leave and non-vesting sick leave. b) Provide two examples of long-term employee benefits2. Dainty Ltd has an average weekly payroll of $200 000. The employees are entitled to 2 weeks',non-vesting sick leave per annum. Past experience suggests that 56% of employees will take thefull 2 weeks' sick leave and 22% will take 1 week's leave each year. The rest of the employeestake no sick leave.a) Calculate the expected annual sick-leave expense for Dainty Ltd (on the basis of averagesalaries).b) Provide the journal entry necessary to recognise the sick-leave entitlement expense as itaccrues each week.c) In the current week an employee with a weekly salary of $600 has been off sick for the firsttime this year. The employee took 2 days off out of her normal 5-day working week. Assumingthat PAYG tax is deducted at 30%, what would the entry be to record the employee's weeklysalary (round amounts to the nearest dollar)?1.The following information is applicable to a weekly paid employee for JQ Ltd Normal working week (5 days) 40hoursNumber of hours worked 45 hours normal remuneration rate R5 Overtime rate R7 Pension Fund (based on remuneration) Employer’s contribution 5%Employee contribution 2%Medial Aid Fund R50 PAYE (based on taxable income) R10%UIF R10 1.1)Calculate employee net salary for the week
- An employer uses a career average formula to determine retirement payments to its employees. The annual retirement payout is 8 percent of the employees’ career average salary times the number of years of service. Calculate the annual benefit payment under the following scenarios. Years Worked Career Average Salary 27 $ 68,000 30 70,500 32 72,000Assume an employee has a gross pay of $500 and vacation pay is paid out at 4%. How much extra gross pay does the employee receive on their paycheque? Select one: a. $500 O b. $0 c. $20 d. $480Assuming the employee makes 100k per year. 7% is the employees investment, 14% from the employer. 2-1 You start at 27 years old and retire at 60 (33 years ) Average APR of 7% *I need the highlighted question answered
- 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.)1. Mr. Dacanay is a minimum wage earner (MWE) with a following date in a year: Compensation income (salary) ……………………. P 144,000.00 Mandatory contribution to govt (SSS Philhealth And HDF) 6,000.00 13th Month pay ------------------------------- 12,000.00 Compute the income tax present computation properly. 2. Mr. Malabag is not a minimum wage earner. He had the following data for the year. Taxable Compensation income--------------- P 280,000.00 13th month pay and other benefit exempt from Income tax ---------------------------------- 105,000.00 SSS 5,000.00 Compute the Income tax and present computation properly. 3. Mr. Cho had the following data in a calendar year. Gross sales from self-employment P 2,000,000.00 Interest on Philippine…Joshua Company has a define contribution plan that covers its existing employees. The terms of the plan require Joshua to contribute 5% of the annual employee salaries to the retirement plan each year. The payroll shows the annual salaries and contributions made as follows: Year Gross Payroll Contributions made 2021 P10,000,000 P670,000 2022 12,200,000 430,000 How much is the benefit expense in 2022 profit or loss and the amount of prepaid (accrued) banefit as of December 31, 2022?