Bright Lights Inc. is located in Winnipeg, Manitoba and employs 4 staff. It is in the...

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Bright Lights Inc. is located in Winnipeg, Manitoba and employs 4 staff. It is in the process of filing their final report to the Workers Compensation Board of Manitoba for 2020. The earnings summary for the year is as follows: Employee Joe Smith Cindy Jones Jim Cropper Salary/Wages $ 129,000 80,000 64,000 53,000 Taxable Benefits Bonuses $ 500 $2,000 100 1,000 Bill Shenkar The Workers Compensation Board of Manitoba has advised that their rate for 2020 is $2.78 per $100. The company made remittances to the Manitoba Workers Compensation Board this year totaling $9,000. Required: 1. Calculate the annual cost of workers' compensation insurance. 2. Determine whether there is a' Balance owing' or if there is an 'Overpayment' and how much that 21C 40 Bright Lights Inc. is located in Winnipeg, Manitoba and employs 4 staff. It is in the process of filing their final report to the Workers Compensation Board of Manitoba for 2020. The earnings summary for the year is as follows: Employee Joe Smith Cindy Jones Jim Cropper Salary/Wages $ 129,000 80,000 64,000 53,000 Taxable Benefits Bonuses $ 500 $2,000 100 1,000 Bill Shenkar The Workers Compensation Board of Manitoba has advised that their rate for 2020 is $2.78 per $100. The company made remittances to the Manitoba Workers Compensation Board this year totaling $9,000. Required: 1. Calculate the annual cost of workers' compensation insurance. 2. Determine whether there is a' Balance owing' or if there is an 'Overpayment' and how much that 21C 40