In: Accounting
Leah works for Toffolon Technicians in New Hampshire, where she earns $29,400 annually. She contributes 3.5% to her 401(k), of which her employer matches 1.75%. Her employer contributes $150 per month for her health insurance, $40 per month for her life insurance, and $30 per month for her AD&D insurance. Toffolon Technicians pays employer-only taxes and insurance that comprises an additional 17% of Leah’s annual salary. What is Leah’s total annual compensation?
A. 37552.5
B. 38581.5
C. 29400
D. 36523.5
Answer A. $37,552.50 | ||
Annual Salary | 29,400.00 | |
Employer Contribution: | ||
401(k) - $29,400 X 1.75% | 514.50 | |
Health Insurance - $150 X 12 | 1,800.00 | |
Life Insurance - $40 x 12 | 480.00 | |
AD&D Insurance - $30 X 12 | 360.00 | |
Taxes & Insurance - $29,400 X 17% | 4,998.00 | 8,152.50 |
Total Compensation | 37,552.50 |