Small Orange Fine Foods is a specialty grocery store. The employees are classified according to job titles
Question:
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?
b. The actual payroll for 20XX is listed below. What is the workers’ compensation premium based on the actual payroll?
c. What is the difference between the actual and the estimated premiums?
Transcribed Image Text:
Employee Classification Grocery Clerk Shelf Stocker Stock Handler Rate per $100 of Payroll $0.75 1.90 2.40 Estimated Payroll for 20XX $192,500 212,160 237,120 Workers' Compensation Total Premium = Premium
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Related Book For
Payroll Accounting 2023
ISBN: 9781264415618
9th Edition
Authors: Jeanette M. Landin, Paulette Schirmer
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