question archive Reagan Western Wear, Inc
Reagan Western Wear, Inc
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Reagan Western Wear, Inc. has a defined benefit pension plan covering its 120 employees. In- formation relating to the plan follows:
|
Fair value of plan assets, Jan. 1, 2005 ................ |
$3,400,000 |
|
Fair value of plan assets, Dec. 31, 2005 ............... |
3,720,000 |
|
Market-related value of plan assets, Jan. 1, 2005 ...... |
2,760,000 |
|
Market-related value of plan assets, Dec. 31, 2005 ..... |
2,840,000 |
|
Benefits paid to retirees during 2005 .................. |
168,000 |
|
Contributions to pension fund during 2005 .............. |
120,000 |
Reagan expects a 10 percent return on its pension fund assets. Compute the difference between the actual return and the expected return and explain how this amount affects net periodic pension cost for 2005.
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