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Willamette Manufacturing estimated that its total payroll for the coming year would be $650,000. The workers' compensation insurance premium rate is 0.3%. Calculate the estimated workers' compensation insurance premium.

Answer :

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

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