Homework Answers
Estimated wages to be paid to office employees = $46,000
Rate for workers' compensation insurance for office employees = $0.40 per $100 of wages = 0.4 / 100 = 0.4% of wages
Estimated premium for office employees = 0.4% of $46,000 = $184
Estimated wages to be paid to factory employees = $162,000
Rate for workers' compensation insurance for factory employees = $3.50 per $100 of wages = 3.50 / 100 = 3.5% of wages
Estimated premium for factory employees = 3.5% of $162,000 = $5,670
Total Estimated Premium for 2019 =Estimated premium for office employees + Estimated premium for factory employees = $184 + $5670 = $5,854.
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