Gwen Evans is an employee at Findley Street Financial, where she earns an annual salary of $125,500, paid semimonthly. She has the following fringe and voluntary benefits:
• Medical insurance, $150 per month
• 401(k), 6% of gross pay
• Flexible spending arrangement, $2,000 annually
• United Way contributions, $25 per pay period
What is the total amount she contributes to fringe benefits and voluntary deductions annually?
What will be an ideal response?
$11,930 calculated as:
• Medical insurance, $1,800 = $150 per month x 12
• 401(k), $7,530 = $125,500 x 6% of gross pay
• Flexible spending arrangement, $2,000 annually
• United Way contributions, $600 = $25 per pay period x 24
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