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Frazier Refrigeration amended its defined benefit pension plan on December 31, 2021 to increase retirement...

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Accounting

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Frazier Refrigeration amended its defined benefit pension plan on December 31, 2021 to increase retirement benefits earned with each service year. The consulting actuary estimated the pror service cost incurred by making the amendment retroactive to prior years to be $330.000. Frazier's 120 present employees are expected to retire at the rate of approximately 12 each year at the end of each of the next 10 years. Required: 1. Using the service method, calculate the amount of prior service cost to be amortized to pension expense in each of the next 10 years 2. Using the straight-line method, calculate the amount of prior service cost to be amortized to pension expense in each of the next 10 years. Complete this question by entering your answers in the tabs below Required 1 Required 2 Using the service method, calculate the amount of prior service cost to be amorted to pension expense in each of the next 10 years. (Do not round intermediate calculations. Enter your answers in thousands (e. 200,000 should be entered as 200)-) Amount Amortized (5 in "000s) 2022 Required 2 >

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