The following information is related to the defined benefit pension plan of dreamworld company for the year: service cost $ 61,000 contributions to pension plan 111,000 benefits paid to retirees 156,000 plan assets (fair value), january 1 643,000 plan assets (fair value), december 31 750,000 actual return on plan assets 152,000 pbo, january 1 910,000 pbo, december 31 906,000 discount rate 10 % long-term expected return on plan assets 9 % assuming no other relevant data exist, what is the pension expense for the year?

The pension expense for the year is $94,130

Explanation:

The computation of the pension expense is shown below:

= Service cost + Interest cost - expected return of plant

where,

Service cost = $61,000

Interest cost = PBO, January 1 × discount rate

                     = $910,000 × 10%

                     = $91,000

Expected return on plant asset = Plan assets (fair value), January 1 × Long-term expected return on plan assets

= $643,000 × 9%

= $57,870

Now put these values to the above formula  

So, the value would equal to

= $61,000 + $91,000 - $57,870

= $94,130

answer; competency based pay;

answer; ///(d); determining who competes most closely   with whom evaluating whether industry driving forces and competitive pressure favor some strategic groups and hurt others, and ascertaining whether the profit potential of different strategic groups varies due to the strengths and weaknesses in each groups respective market positions;