At Fox Furniture, employees are classified according to the job title for workers compensation insurance premium computation
Question:
At Fox Furniture, employees are classified according to the job title for workers’ compensation insurance premium computation purposes.
a. Based on the following payroll estimates as of January 1, what is the estimated workers’ compensation insurance premium for the year 2022?
b. The actual payroll for 2022 is listed below. What is the workers’ compensation premium based on the actual payroll?
c. What is the difference between the actual and the estimated premiums?
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Step by Step Answer:
To calculate the estimated workers compensation insurance premium for the year 2022 we need to use the rate per 100 of payroll for each employee class...View the full answer
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Payroll Accounting 2023
ISBN: 9781264415618
9th Edition
Authors: Jeanette M. Landin, Paulette Schirmer
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