Question
25 Points The RMA Company is attempting to understand its workers compensation cost. The information below reflects the audited payroll calculated by the insurance company
25 Points
The RMA Company is attempting to understand its workers compensation cost. The information below reflects the audited payroll calculated by the insurance company and verified by RMAs accounting department.
Determine the most current manual rates (for the State of Wisconsin) for each trade and calculate the standard workers compensation premium for experience modification factors of .8, 1.2, and 1.8.
ABC Contracting Payroll Information - FY 2022
| Classification | Payroll |
| Roofing | $ 450,000 |
| Carpentry | $ 555,000 |
| Insulation work | $ 250,000 |
| Wallboard insulation | $ 175,000 |
| Concrete construction | $ 750,000 |
| Concrete flatwork | $ 450,000 |
| Electrical wiring | $ 225,000 |
| Clerical | $125, 000 |
9. 5 Points
Provide an explanation only of how you could analyze retrospective plans using break-even formulas (considering standard premium, minimum premium and maximum premium as the basis for analysis).
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Number Theory A Historical Approach
Authors: John J Watkins
1st Edition
1400848741, 9781400848744
