What is the answer in number 4? Activity 4- Accounting for Labor1. JYD Accounting Firm pays its employees at a rate of P50/hr. The tax and other deductions amountto 20% of monthly income in excess of P1,000 if an employee works 40 hours in a 120 hours in amonth.Required : Compute the following:A. Gross PayB. Net Pay2. Richard Corp has the following data for the third week of December:Employee Name ClassificationHours WorkedRate per hourA. KuholB. AileenC. JoseLaborer4550Office Secretary4645Laborer5052Factory SupervisorSales agentLaborerD. Jay5548E. Richmond5260F. Edward4845The following are to be deducted to the gross earnings of employees:Witholding taxesSSS contributions5%3%Philhealth1%Pag-ibig1%Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40hours.Required: Prepare Journal Entries to recordA. PayrollB. Labor distribution3. Mr. Koala, a factory worker is paid P150 per hour for a regular work of 40 hours. During the week,Mr. Koala worked 45 hours and earned time and a half for overtime hours.Required: Prepare Journal EntriesA. If overtime premium is charged to the jobs worked during the overtime hours.B. If the overtime premium is not charged to specific jobs.4. Peter Senen Corp has the following data for the fourth week of MarchHours WorkedEmployee Name Hourly Rate Sun Mon TueWedThursFriSatTotalKris90088888854Bryan95087109849Rose7501.89.109853Tess90081088856Jose1,0009886710856The rate for hours in excess of 40 is one and half times the regular rate. The rate for hours worked onSunday is twice the regular rate.Required: compute the gross earnings of each employee.

Since, you have specifically asked for question 4 we have solved the same for you.

4. Peter Senen Corp has the following data for the fourth week of March Hours Worked Employee Name Hourly Rate Sun Mon Tue Wed Thurs Fri Sat Total Kris 900 8 8 8 8 8 8 54 Bryan 950 7 10 9 8 49 Rose 750 1 8 8 10 9 8 53 Tess 900 5 8 10 8 8 8 56 Jose 1,000 8 8 7 10 8 56 The rate for hours in excess of 40 is one and half times the regular rate. The rate for hours worked on Sunday is twice the regular rate. Required: compute the gross earnings of each employee. 9 00 00 00 00 00 00

4. Peter Senen Corp has the following data for the fourth week of March Hours Worked Employee Name Hourly Rate Sun Mon Tue Wed Thurs Fri Sat Total Kris 900 8 8 8 8 8 8 54 Bryan 950 7 10 9 8 49 Rose 750 1 8 8 10 9 8 53 Tess 900 5 8 10 8 8 8 56 Jose 1,000 8 8 7 10 8 56 The rate for hours in excess of 40 is one and half times the regular rate. The rate for hours worked on Sunday is twice the regular rate. Required: compute the gross earnings of each employee. 9 00 00 00 00 00 00

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter3: Accounting For Labor

Section: Chapter Questions

Problem 12E: A weekly payroll summary made from labor time records shows the following data for Pima Company:...

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Wages Payable Denton Corporation employs 50 workers in its plant. Each employee is paid $10 per hour and works seven hours per day, Monday through Friday. Employees are paid every Friday. The last payday was Friday, September 19. Required Compute the dollar amount of the weekly payroll. Prepare the journal entry on Friday, September 26, for the payment of the weekly payroll. Denton prepares monthly financial statements. Prepare the adjusting journal entry on Tuesday, September 30, the last day of the month. Prepare the journal entry on Friday, October 3, for the payment of the weekly payroll. Will net income for the month of September be understated or overstated if Denton doesnt bother with an adjusting entry on September 30? Explain your answer.
The total wages and salaries earned by all employees of James Industries during the month of February, as shown in the labor cost summary and the schedule of fixed administrative and sales salaries, are classified as follows: a. Prepare a journal entry to distribute the wages earned during February. b. What is the total amount of payroll taxes that will be imposed on the employer for the payroll, assuming that three administrative employees with combined earnings this period of 4,500 have exceeded 8,000 in earnings prior to the period?
R. Herbert of Crestview Manufacturing Co. is paid at the rate of 20 an hour for an eight-hour day, with time-and-a-half for overtime and double-time for Sundays and holidays. Regular employment is on the basis of 40 hours a week, five days a week. At the end of a week, the labor time record shows the following: Because jobs are randomly scheduled for the overtime period, any overtime premium is charged to Factory Overhead. a. Compute Herberts total earnings for the week. b. Present the journal entry to distribute Herberts total earnings. (Note: These single journal entries here and in E3-2, E3-3, E3-4, E3-8 and E3-9 are for the purpose of illustrating the principle involved. Normally, the entries would be made for the total factory payroll plus the administrative and sales payroll.)
Calculate an employees total earnings if the company pays time-and-a-half when Jill Smith works 41 hours at 15 per hour. a. 600.00 b. 615.00 c. 622.50 d. 635.00 e. None of the above
An analysis of the payroll for the month of November for CinMar Inc. reveals the information shown: All regular time Andrews, Lomax, and Herzog are production workers, and Dimmick is the plant manager. Hendrick is in charge of the office. Cumulative earnings paid (before deductions) in this calendar year prior to the payroll period ending November 8 were as follows: Andrews, 21,200; Lomax, 6,800; Herzog, 11,500; Dimmick, 116,200; and Hendrick, 32,800. The solution to this problem requires the following forms, using the indicated column headings: 1. Prepare an employee earnings record for each of the five employees. 2. Prepare a payroll record for each of the four weeks. 3. Prepare a labor cost summary for the month. 4. Prepare journal entries to record the following: a. The payroll for each of the four weeks. b. The payment of wages for each of the four payrolls. c. The distribution of the monthly labor costs per the labor cost summary. d. The company's payroll taxes covering the four payroll periods.
Barbara Ripa receives 695 for a regular 40-hour week and time and one-half for overtime. For a workweek of 45 hours, compute: a. The regular earnings________ b. The overtime earnings________ c. The total earnings________
COMPUTING OVERTI ME RATE OF PAY AND GROSS WEEKLY PAY Rebecca Huang receives a regular salary of 2,600 a month and is paid 1 times the regular hourly rate for hours worked in excess of 40 per week. (a) Calculate Huangs overtime rate of pay. (b) Calculate Huangs total gross weekly pay if she works 45 hours during the week.
A weekly payroll summary made from labor time records shows the following data for Pima Company: Overtime is payable at one-and-a-half times the regular rate of pay and is distributed to all jobs worked on during the period. a. Determine the net pay of each employee. The income taxes withheld for each employee amount to 15% of the gross wages. b. Prepare journal entries for the following: 1. Recording the payroll. 2. Paying the payroll. 3. Distributing the payroll. (Assume that the overtime premium will be charged to all jobs worked on during the period.) 4. The employers payroll taxes. (Assume that none of the employees has achieved the maximum wage bases for FICA and unemployment taxes.)
Bruce Eaton is paid 10 cents per unit under the piece-rate system. During one week, Eaton worked 46 hours and produced 5,520 units. Compute the following: 1. The piecework earnings ________ 2. The regular hourly rate ________ 3. The overtime hourly rate ________ 4. The overtime earnings ________ 5. The total earnings ________
2. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour A. Kubel Laborer 45 50 B. Aileen Office Secretary 46 45 C. Jose Laborer 50 52 D. Jay Factory Supervisor 55 48 E. Richmond Sales agent 52 60 F. Edward Laborer 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes 5% ssS contributions 3% Pbilhsalth Pag-ibig 1% 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 -----. hours. Required: Prepare Journal Entries to record A. Payroll B. Labor distribution
3. Richard Corp has the following data for the third week of December: Employee Name Worked Classification Hours Rate per hour A. Kuhol Laborer 45 50 B. Aileen Office Secretary 46 45 C. Jose Laborer 50 52 D. Jay Factory Supervisor 55 48 E. Richmond Sales agent 52 60 F. Edward Laborer 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes SSS contributions 5% 3% Philhealth 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. How much is the gross payroll?
Employees’ earnings and taxesA weekly payroll summary made from labor time records showsthe following data for Pima Company:HourlyRateHoursEmployee Classification Regular OvertimeTu, H. Direct $12 40 2Dante, J. Direct 12 40 3Jamal, M. Direct 15 40 4Marcus, L. Indirect 9 40Alexander, T. Indirect 18 40Overtime is payable at one-and-a-half times the regular rate of payand is distributed to all jobs worked on during the period.a. Determine the net pay of each employee. The income taxes withheldfor each employee amount to 15% of the gross wages.b. Prepare journal entries for the following:1. Recording the payroll.2. Paying the payroll.3. Distributing the payroll. (Assume that the overtime premiumwill be charged to all jobs worked on during the period.)4. The employer’s payroll taxes. (Assume that none of theemployees has achieved the maximum wage bases for FICAand unemployment taxes.)