Willamette Manufacturing estimated that its total payroll for the coming year would be $650,000. The workers' compensation insur

Question

3 years ago

14

ance premium rate is 0.3%. Calculate the estimated workers' compensation insurance premium.

1 answer:

MrMuchimi · Answer 1 · 2022-02-24T06:21:34+03:00

Answer:

the estimated workers' compensation insurance premium is $1,950

Explanation:

The computation of the estimated workers' compensation insurance premium is shown below:

= Total payroll for the coming year × compensation insurance premium rate

= $650,000 × 0.3%

= $1,950

hence, the estimated workers' compensation insurance premium is $1,950

The above formula to be applied for determining the same