Saved Help Save Exit Submit Check my work Wilsons Fine Foods

Saved Help Save& Exit Submit Check my work Wilson\'s Fine Foods is a specialty grocery store. The employees are classified according to job titles for workers compensation insurance premium computation purposes. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Required: 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 payrol? c. What is the difference between the actual and the estimated premiums? nts Estimated Payroll for 20xX Rate per $100 Employee Classification of Payroll Workers\' Compensation Premium eBook 0.50 S 1.35 S 180,360 1.80 203,000 a. Grocery ClerkS 50,000 Shelf Stocker S Stock Handler Total Premium Hint 0.00 Print b. Grocery Clerk $0.50154,1 Shelf Stocker$ Stock Handler $ Total Premium 1.35 183,450 1.80 $ 208,474 erences 0.00 c. Difference between actual and estimated premiums

Solution

Emp classification Rate per $100 of Payroll Estimated payroll for 20XX Worker\'s Comp. Premum a Grocery clerk $0.50 150000 $750.00 E2*D2/100 shelf stocker $1.35 180360 $2,434.86 E3*D3/100 stock handler $1.80 203000 $3,654.00 E4*D4/100 Total Premium $6,838.86 b Grocery clerk $0.50 154100 $770.50 shelf stocker $1.35 183450 $2,476.58 stock handler $1.80 208474 $3,752.53 Total Premium $6,999.61 c Difference between actual and estimated premiums $160.75