WORKERS COMPENSATION PREMIUM

FOR THIS EXERCISE, PLEASE ASSUME A PROVINCE THAT HAS $3$ RATES FOR WORKER'S COMPENSATION.

GENERAL OFFICE WORKERS $ $1\mathrm{.}85$ PER $$100$

SALES STAFF $$2\mathrm{.}45$ PER $ $100$

MANAGEMENT PERSONNEL $$1\mathrm{.}25$ PER $$100$

IN THIS PROVINCE DSK ENTERPRISE OPERATE A BUSINESS THAT HAS WORKER'S IN

EACH OF THESE CATEGORIES. THE COMPANY HAS PROJECTED THE FOLLOWING SALARY

EXPENSE FOR EACH CATEGORY OF EMPLOYEE FOR THE CALENDAR YEAR:

GENERAL OFFICE WORKER $$286,000$

SALES STAFF $375,000$

MANAGEMENT PERSONNEL $460,000$

REQUIRED:

PART A$.$ CALCULATE THE WCB PREMIUM THAT DSK WOULD SUBMIT TO ITS PROVINCIAL WCB FOR THE YEAR

PART B$.$ GIVEN THE ACTUAL SALARY EXPENSES TURNED OUT TO BE AS SHOWN BELOW,CALCULATE THE REFUND

OR ADDED PREMIUM THAT THE COMPANNY RECEIVES FROM, OR MUST SEND TO$,$ ITS WCB EARLY IN JANUARY OF NEXT YEAR:

GENERAL OFFICE WORKER $$292,000$

SALES STAFF $374,000$

MANAGEMENT PERSONNEL $468,000$

YOUR ANSWER HERE:

Part A GENERAL OFFICE WORKER

SALES STAFF

MANAGEMENT STAFF

Cheque to be sent

Part B GENERAL OFFICE WORKER

SALES STAFF

MANAGEMENT STAFF

Actual premium for the year

Difference $-$ to be sent or refunded January of the following year