Payroll-related expenses
Shown below is a summary of the annual payroll data of Revere Ironworks: (d)How were the costs of postretirement benefits determined? Which of these amounts results in a liability to Revere Ironworks,and when will this liability be paid? Will the amount of the payments be more or less than the amount now shown as a liability? Explain.

Question

Payroll-related expenses
Shown below is a summary of the annual payroll data of Revere Ironworks:    (d)How were the costs of postretirement benefits determined? Which of these amounts results in a liability to Revere Ironworks,and when will this liability be paid? Will the amount of the payments be more or less than the amount now shown as a liability? Explain.

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The Answer of Payroll-related expenses
Shown below is a summary of the annual payroll data of Revere Ironworks:    (d)How were the costs of postretirement benefits determined? Which of these amounts results in a liability to Revere Ironworks,and when will this liability be paid? Will the amount of the payments be more or less than the amount now shown as a liability? Explain.

Payroll-Related Expenses Shown Below Is a Summary of the Annual Payroll Data