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Judi Pendergrass is an account representative at Ever Pharmaceuticals. She has a company car for customer visits, which she uses to commute from work to home on Friday nights and from home to work on Monday mornings, 50 weeks per year. Her commute is 26 miles in each direction.Required:Using the commuting rule, what is the valuation of the fringe benefit?

Respuesta :

The valuation of the fringe benefit will be 3600.

How to calculate the benefits?

The valuation of the fringe benefit will be calculated thus:

= (2 × miles in each direction) × number of weeks × benefit rate

= (2 × 24) × 50 × 1.50

= 48 × 59 × 1.50

= 3600

In conclusion, the valuation of the fringe benefit will be 3600.

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