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Belkin Co. provides medical care and insurance benefits to its retirees. In the current year, Belkin agrees to contribute 5% of the employees’ $250,000 gross salaries to a retirement program. What is the amount of employee benefits expense for the current period?

Respuesta :

Ashraf82

The amount of employee benefits expense for the current period is

$12,500

Step-by-step explanation:

Belkin Co. provides medical care and insurance benefits to its retirees.

In the current year, Belkin agrees to contribute 5% of the employees’

$250,000 gross salaries to a retirement program

We need to find the amount of employee benefits expense for the

current period

To solve the problem

  • Find the percentage of the benefits
  • Multiply the percentage of benefits by the gross salary
  • The answer is the amount of employee benefits expense for the current period

∾ The benefits for the current year is 5%

∾ These benefits for the gross salaries of $250,000

∴ The amount of benefits = 5% × 250,000

∾ 5% = [tex]\frac{5}{100}[/tex] = 0.05

∴ The amount of benefits = 0.05 × 250,000

∴ The amount of benefits = $12,500

The amount of employee benefits expense for the current period is

$12,500

Learn more:

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