LO 6-1, 6-4 Small Orange Fine Foods is a specialty grocery store. The employees are classified according to job titles for workers’ compensation insurance premium computation purposes.

a. Based on the payroll estimates as of January 1, what is the total estimated workers’ compensation premium for 20XX?

c. What is the difference between the actual and the estimated premiums?

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Employee Classification Grocery Clerk Shelf Stocker Stock Handler Rate per $100 of Payroll Estimated Payroll for 20XX Workers' Compensation Premium $0.75 1.90 2.40 $192,500 212,160 237,120 Total Premium = Classification of Payroll Employee b. The actual payroll for 20XX follows. What is the workers' compensation premium based on the actual payroll? Rate per $100 Workers' Compensation Premium Actual Payroll for 20XX Grocery Clerk $0.75 $196,588 Shelf Stocker 1.90 215,220 Stock Handler 2.40 242,574 Total Premium =