Question
Please calculate ABC Ltd.'s WCB premium (gross earnings over 98,700 is considered excess earnings) Mr. A - Annual Salary $120,000, Vacation pay 10%, Pay period
Please calculate ABC Ltd.'s WCB premium (gross earnings over 98,700 is considered excess earnings)
Mr. A - Annual Salary $120,000, Vacation pay 10%, Pay period frequency: Monthly. Number of hours required to work monthly is 160. Any hours over 162 is considered overtime.
Mr. B - Annual Salary $163,000, Vacation pay 4%, Pay period frequency: Semi-monthly. Mr. B is required to work 80 hours per pay cycle, any hours over 85 is considered overtime.
Mr. C - Annual Salary $99,000. Vacation pay 6%, Pay period frequency: Monthly. Number of hours required to work monthly is 150. Any hours over 155 is considered overtime.
Assume followings are Mr. A, B, and C gross earnings in 2023
Mr. A - $120,000, Mr. B - $145,000, and C $65,000
Required:
Please calculate ABC's WCB premium when WCB premium is $2.10 per $100
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started