You arethe premium auditor for workers compensation for the insured in the County of Oggaallaa, North Carolina.
Question:
You arethe premium auditor for workers compensation for the insured in the County of Oggaallaa, North Carolina. For information on classification codes identified by the NC county commissioners consult the file scopesmanualnorthcarolinacountycommissioners.pdf in Blackboard. The objective of this project is to assign the correct classification code to the correct payroll and calculatea manual premium (before credits and experience modification) forthis workers compensation account. The provisional manual premium paid at the beginning of the year was $64,867. What will be the premium forthis account at the end of the audit?
The county has a police force, road maintenance crews, a small municipal airport and maintains a fleet of busses for the county school district. There is a water and sewer department, fire department and the like. Here are the basic jobs and payrolls. Assign the proper 4 digit classification and multiply the premium per$100 for the rate. Total up the premium and indicate the audit additional or return premium.
Class
Code 6217 | Rate per $100 Payroll 3.10 |
| 7705 | 2.65 |
| 7380 | 1.90 |
| 7382 | 2.10 |
| 7423 | 4.15 |
| 7520 | 5.10 |
| 7580 | 4.85 |
| 7710 | 16.20 |
| 7720 | 18.15 |
| 8017 | 1.20 |
| 8380 | 3.89 |
| 8742 | 1.12 |
| 8810 | 1.08 |
| 8803 | 1.08 |
| 8820 | 1.08 |
| 8861 | 1.08 |
| 8871 | 1.08 |
| 8814 | 1.08 |
| 8800 | 1.08 |
| 8901 | 1.08 |
| 8820 | 1.42 |
| 8831 | 2.10 |
| 8832 | 2.10 |
| 8833 | 1.85 |
| 8835 | 3.15 |
| 8868 | 1.10 |
| 9015 | 3.14 |
| 9102 | 6.15 |
| 9403 | 14.15 |
| 9410 | 1.10 |
Assignment 5b Project Continued – Enter the Correct Data here
| Job description and Payroll | Class code, Rate, Premium (per $100 of payroll) |
Clerks and others who perform mainly clerical duties in county offices $600,000 | |
| Garbage collectors $200,000 | |
Water company employees including meter readers $210,000 | |
Aircraft hanger workers $64,000 | |
| Public defenders $132,000 | |
| Vehiclemechanics $123,000 | |
| School bus drivers $297,000 | |
| Police officers $410,000 | |
| Firefighters $340,000 | |
| 911 operators $109,000 | |
Sewage disposal plant workers $165,000 | |
Ambulance service drivers and EMI $98.000 | |
Clerical and professorial staff at community college $1,034,000 | |
Road building employees $340,000 | |
Swimming pool lifeguards at high school $42,000 | |
| Total Premium forthe Year? | Total: |
| Additional or Return Premium and by how much? |
Expert Answer:
To calculate the premium for this workers compensation account you need to assign the correct classification codes to the respective payrolls multiply ... View the full answer
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
