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sc-supplementSC State Supplementhard

Calculate the total cost of workers compensation insurance for a contractor with three employee classifications: $60,000 payroll at $8.50/$100 (roofing), $40,000 at $12.30/$100 (electrical), and $25,000 at $3.15/$100 (clerical).

Correct Answer

A) $6,618

Total premium = ($60,000÷$100×$8.50) + ($40,000÷$100×$12.30) + ($25,000÷$100×$3.15) = $5,100 + $4,920 + $787.50 = $6,618

Answer Options
A
$6,618
B
$6,308
C
$6,425
D
$6,847

Why This Is the Correct Answer

Total premium = ($60,000÷$100×$8.50) + ($40,000÷$100×$12.30) + ($25,000÷$100×$3.15) = $5,100 + $4,920 + $787.50 = $6,618

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