Ask Question
27 December, 07:48

Cordelia is an employee of Snaktyme Foods in Missouri. She earns $24,000 annually. Snaktyme has provided uniforms worth $350 and training worth $850 as part of her employment. She contributes 4% to her 401 (k), of which her employer matches half. Cordelia's employer pays the following monthly amounts toward her insurance: health, $125; life, $50; AD&D, $30.

Snaktyme Foods pays employer-only taxes and insurance that comprises an additional 14% of Cordelia's annual salary.

What is Cordelia's total annual compensation? A.$28,000B.$31,500C.$29,260D.$29,900

+3
Answers (1)
  1. 27 December, 08:11
    0
    option (B) 31,500

    Explanation:

    Data provided in the question:

    Annual earning = $24,000

    Worth of uniform = $350

    Training worth = $850

    Contribution to 401 (k) = half of 4% of earning

    = 0.5 * 0.04 * $24,000

    = $480

    monthly amounts toward her insurance:

    health = $125

    Life = $50

    AD&D = $30

    Total annual amounts toward her insurance = 12 * [ $125 + $50 + $30 ]

    = 12 * 205

    = $2,460

    Therefore,

    Employer taxes and insurance = 14% of $24,000

    = $3,360

    Therefore,

    Cordelia's total annual compensation

    = $24,000 + $350 + $850 + $480 + $2,460 + $3,360

    = $31,500

    Hence,

    Answer is option (B) 31,500
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Cordelia is an employee of Snaktyme Foods in Missouri. She earns $24,000 annually. Snaktyme has provided uniforms worth $350 and training ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers