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25 February, 16:35

Ryan's Sparkling Jewels estimated its payroll for the coming year to be $84,000. Its workers' compensation

insurance premium rate of 0.6% is paid at the beginning of each quarter.

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  1. 25 February, 16:44
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    Ryan's Sparkling Jewels estimated its payroll for the coming year to be $84,000. Its workers' compensation insurance premium rate of 0.6% is paid at the beginning of each quarter required: Calculate the estimated cost of workers' compensation insurance for the year.

    Answer:

    $504 per year

    $126 per quarter

    Explanation:

    workers' compensation insurance = payroll x insurance rate.

    $84,000 x 0.6%

    $84,000 x 0.006 = $504 per year

    $504 : 4 = $126 per quarter
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