22567 Quiz -1 Spring 2022- Rossanne David

Give true answer this accounting question

K Pitt Accounting pays Peter Geller $97.290 per year Requirements 1. 2. What is the hourly cost to Pitt Accounting of employing Geller? Assume a 45-hour week and a 47-week year What direct labor cost would be assigned to Client 507 if Geller works 15 hours to prepare Client 507's financial statements? Requirement 1. What is the hourly cost to Pitt Accounting of employing Geller? Assume a 45-hour week and 47-week year Select the formula below that Pitt Accounting would use to calculate the hourly cost and complete the formula (Round the hourly cost to the nearest cent) Hourly cost Requirement 2. What direct labor cost would be assigned to Client 507 if Geller works 15 hours to prepare Client 507's financial statements? Select the fomula below that would be used to calculate the direct labor cost assigned to Client 507 and calculate that cost (Round the direct labor cost to the nearest cent). Direct labor cost

What is the correct option? ? General Accounting

PROBLEM 2. Calculate the earnings of A and B from the following particulars for a month and állocate the labour cost to each job X, Y and Z: A В Basic Wages $ 100 $ 160 D.A. 50% 50% 8% Contribution to P.F. (on basic wages) Contribution to E.S.I. (on basic wages) 8% 2% 2% 10 hrs. Overtime (for completion of job Y) The normal working hours for the month are 200. Overtime is paid at double the total of normal wages and D.A. Employer and employees have equal contribution to P.F. and E.S.I. The two workers were employed on jobs X, Y and Z in the following proportions : Jobs Y 40% 30% 30% Worker A 50% 20% 30% Worker B

?? Financial accounting

Calculating Gross Pay based on Wage with Overtime Step 1Determine regular hours Should be 40 unless otherwise Step 2: overtime Hours workedovertime Step 3: Calculate pay Regular hours 40 Step 4Calculate overtime Overtime hours Overtime hours 1.5 = pay Step 5: Add regular pay to Overtime payRegular pays Tyler work 53 hours last week. His regular pay rate is 515 / h * our What is his gross pay? Step 1: 40 hours Step 2: 53.4 = 13hours Step 3: 40*515=\$600 Step 4: 13 * 515 * 1.5 = 5292.5 Step 5: 5600+\$292.50=\$892.50 im not sure if I'm right on the first problem the writing above is a example

Regarding the labor costs, one company shown the following annual data per employee: Gross Annual Salary: "National social security" paid by the employee: "National social security" paid by the company: € 16,800 Income Tax: 5% Attendance 24% time: Idle time: 8% 1,750 hours 2% Page 11/13 Chapter 3: Materials & Labour. Exercises According with the data given, read the sentences below and write True (T) or False (F) in the space provided. (Inside the question, each incorrect answer cancels out each correct one) (Please show you the mathematical process done) The hourly rate is 15.86 € per hour. If the idle time was 4%, the hourly rate would be 12.8 € per hour. The total amount of annual labour cost is € 18,984. The annual productive time is 1,715 hours. The 24% "National Social Security" paid by the company is subtracted from Gross Annual Salary.

calculating gross earnings THe lw pay its employees on a hourly wage. Fing gross earings for each employee.  Hours                              worked hours    wage gross earnings pat          38                          5.96 steve        23                        5.50 mary         32                      6.19

McBride and Associates employs two professional appraisers, each having a different specialty. Debbie specializes in commercial appraisals and Tara specializes in residential appraisals. The company expects to incur total overhead costs of $299,610 during the year and applies overhead based on annual salary costs. The salaries and billable hours of the two appraisers are estimated to be as follows: Annual Salary Billable Hours Debbie $ 126,480 1,700 Tara $ 73,260 1,650 The accountant for McBride and Associates is computing the hourly rate that should be used to charge clients for Debbie's and Tara's services. The hourly billing rate should be set to cover the total cost of services (salary plus overhead) plus a 25 percent markup. Required: 1. Compute the predetermined overhead rate.. 2. Compute the hourly billing rates for Debbie and Tara.

Please provide this question solution general accounting

44 a reim- urden? aid by costs? npen- AGREE TO PAY ABOVE TOTAL AMOUNT ACCORDING TO CARD ISSUER AGREEMENT ortant to in- The cost of labor bur- rket rates, decisions. ces paid to ce, work- ce, insur- enefits. ◄ Previous Rental Customer: ZACH ZABRISKIE 6. Determine the annual cost, monthly cost, and burden markup for a salaried employee given the information in Table 8-2. Assume the employee takes full advantage of the 401(k) benefit. Table 8-2 Wage Information for Problem 6 Item Wages Bonus Allowances Social Security Medicare FUTA SUTA Workers' Comp. General Liability tv 401(k) Health Insurance Cost $145,000 $10,000 $500 per month for vehicle 6.2% of wages to $128,700 1.45% of wages 0.6% of wages to $7,000 3.0% of wages to $7,000 $4.25 per $100 of wages 1.02% of wages 100% match up to 6% of wages $375/month ♫ 7. Set up a worksheet to calculate the annual cost, aver- age hourly cost, and the burden markup of an hourly employee. The spreadh enter In t era CO pr C a C i

Insurance An insurance company has looked at the total salary costs of its call centre staff, which it has traditionally treated as a fixed overhead and not attempted to apportion to individual services. It has determined the following for last year:   Total  Wages Time on selling policies Time on claims handling Time on policy changes Time on policy cancelling Other activities Call staff £200,000 50% 30% 10% 5% 5% Deputy managers £100,000 10% 30% 30% 5% 25% Managers £80,000 5% 15% 20% 10% 50%   Last year, the company sold 100,000 new policies, handled 30,000 claims, made changes to 5,000 policies and cancelled 1,000 policies. Calculate the staffing costs that the company must cover in selling policies, handling claims, changing policies and cancelling policies.

Gross earnings is______________________.         An amount of money paid to an employee at a specified rate per hour worked         A fixed amount of money paid to an employee for each pay period         The total amount of money an employee earns in a pay period; also called gross pay         A record of the time an employee arrives at work, leaves work, and the total number of hours worked each day

Computing Overtime Rate of Pay and Gross Weekly Pay Rebecca Huang receives a regular salary of $3,120 a month and is paid 12 times the regular hourly rate for hours worked in excess of 40 per week. a. Calculate Huang's overtime rate of pay. %$4 overtime pay per hour b. Calculate Huang's total gross weekly pay if she works 45 hours during the week.

Pick one answer: Jason is a recently hired service advisor at Silver Service. He has been assigned to a team of five technicians. Jason gets paid a salary plus commission based off of the production of the entire team. What type of expense(s) is Jason's payroll expense? Direct expense Variable expense Fixed expense Fixed and variable expense

How do I figure the gross up amount and regular gross pay per period?

Give me correct answer for upvotes

Answer C,D, and E

Need assistance with question B please: Assuming the following level of cost-driver volumes for a month, what are the accounting department's estimated costs of doing business using the account analysis approach?

Assume an employee has a gross pay of $500 and vacation pay is paid out at 4%. How much extra gross pay does the employee receive on their paycheque? Select one: a. $500 O b. $0 c. $20 d. $480