Question

Joy Warren is an employee at Jankoski Cycles. She earns a salary of $38,215 annually, paid semimonthly. She contributes to the following fringe benefits and other deductions:

Medical insurance: $238 per pay period
Dental insurance: $24 per pay period
401(k): 6 percent of gross pay
Additional withholding: $134 per month

Required:
What is the total annual amount of Joy’s fringe benefits and other deductions? (Round your answers to 2 decimal places.)



I had originally had these answers and was wrong :

Answer 1

Based on the salary that Joy earns and her deductions, the total annual deductions are:

• Medical insurance - $5,616
• Dental insurance - $576
• 401 (K) - $2,292.90
• Additional withholding - $1,608

What are Joy's deductions?

Joy is paid semimonthly which means twice a month. In a year she is paid:

= 12 x 2

= 24 times

The annual medical insurance is:

= 238 x 24

= $5,616

The annual dental is:

= 24 x 24

= $576

The 401(k) is:

= 6% x 38,215

= $2,292.90

The additional withholding is:

= 134 x 12

= $1,608

Find out more on salary deductions at https://brainly.com/question/2150780.

#SPJ1