Yearly Cost of Absenteeism $480,244 Total Salary $7,766,096 Percentage of Salary 6% Number of Working Days 251 Average Salary Per Day $289.16 What is the total cost of absenteeism to our company? What is the ratio of absentee cost to annual salaries?

Yearly Cost of Absenteeism $480,244 Total Salary $7,766,096 Percentage of Salary 6% Number of Working Days 251 Average Salary Per Day $289.16 What is the total cost of absenteeism to our company? What is the ratio of absentee cost to annual salaries?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Labor prouucaviy rato 2. Prepare partial income statements for each year. Holbrook Company Partial Income Statements Base Year Current Year Sales 13,650,000 16,650,000 Materials 728,000 5,550,000 Labor 728,000 4,440,000 Gross profit 12,194,000 6,660,000 Calculate the total change in income. If the change is negative, enter answer using a minus sign. -5,534,000 3. Calculate the change in profits attributable to productivity changes. If the change is negative, enter answer using a minus sign. If required, round your intermediate calculations to the nearest dollar. 4. Calculate the price-recovery component. If required, round your intermediate calculations to the nearest dollar.
Accounting for Labor If emplovees work on a five day work week and are paid every Friday ot week, Using the calendar year method of accounting, determine the of the Pag-ibig Contribution Withholding taxes 30,000 500,000 on Wednesday. a. P16,200 b. Р27,000 The employers' taxes are as follows: Sss Contribution Philhealth Contribution Pag-ibig Contribution c. P10,800 d. P5,400 200,000 30,000 30,000 The total weekly payroll charged to work in process account is: a. P5,100 b. P8,500 c. P16,000 d. P9,600 Total accrued payroll charged to expense account is: a. P8,100 b. P11,000 c. P6,600 d. P18,500 Comead 25% to administrative and 5% to selling expenses. Compute the total amount of payroll to be charged to work in pre It is the total amount earned by the worker a. Net pay b. Gross pay c. Gross earnings less deductions d. Bonus pay 41. account a. P5,000,000 b. P2,500,000 c. P3,500,000 d. P4,340,000 How much is the total factory overhead control account? a. P2,560,000 b. P1,500,000 c.…
Choose the best definition of gross pay A. The number of hours over 40 that are worked in a week. B. A fixed amount of wages paid, usually on a yearly basis, regardless of how many hours are worked. C. The amount of money earned for a specific amount of time before any deductions are made.
Compute Payroll Floatin Away Company has three employees—a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Consultant Computer Programmer Administrator Regular earnings rate $2,710 per week $34 per hour $44 per hour Overtime earnings rate* Not applicable 1.5 times hourly rate 2 times hourly rate Number of withholding allowances 3 2 1 *For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. For the current pay period, the computer programmer worked 60 hours and the administrator worked 50 hours. The federal income tax withheld for all three employees, who are single, can be determined by adding $276.54 to 24% of the difference between the employee's amount subject to withholding and $1,692.00. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and one withholding allowance is $81. Determine the gross pay and the net pay for each of the three…
Question Trapper Company has the following data for the weekly payroll ended March 31: Employee Hours Hourly Rate CPP EI Income Tax Health Insurance Total Deductions Net Pay Allen 48 $25 $58.54 $23.50 $ 350.00 $10.00 Broady 40 25 46.17 18.80 240.00 15.00 Camaron 25 13 12.76 6.11 65.00 5.00 Diaz 45 15 15.60 12.83 190.00 15.00 Evana 10 13 3.10 2.44 0.00 5.00 TOTAL Employees are paid 1.5 times the regular hourly rate for all hours worked over 44 hours per week. Trapper Company must make payments to the workers' compensation plan equal to 2% of the gross payroll. In addition, Trapper matches the employees' health insurance contributions and accrues vacation pay at a rate of 4%. Instructions Prepare the payroll register for the weekly payroll. Record the payroll and Trapper Company's employee benefits. Pay and remit the salary and post it in journals. please answer like we are writing it on notebook
DETAILS ASK YOUR TEACHER The SUTA rate for Worldwide Industries is 5.4% and its FUTA rate is 6.0% less the 5.4% SUTA credit. If its weekly payroll is $54,174 and none was for payments to employees in excess of the $7,000 wage base, then what are the total FUTA and SUTA taxes for the payroll? O $2,830.44 O $3,250.44 O $5,377.84 O $6,175.84
The following data for Throwback Industries Employee Hours Worked Hourly Rate Aaron 46 $68.00 $750 20 Cobb 41 Clemente 48 DiMaggio 35 Griffey, Jr.. 45 Mantle 62.00 70.00 56.00 62.00 $1,800 Robinson 36 54.00 Williams 2,000 Vaughn 42 62.00 537.68 832.64 366.04 Inc. relate to the payroll for the week ended December 9, Weekly Salary Federal Income Tax U.S. Savings Bonds $100 110 120 0 641.84 130 342.45 382.56 398 24 584.72 120 130 125 50 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel All sales personnel are paid times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0%, and Medicare tax is 1.5% of each employee's annual earnings. The next payroll check to be used is No. 901. Instructions 1. Prepare a payroll summary for Throwback Industries Inc. for the week ended December 9. Round all calculations to the nearest cent. Use the following columns: Employee, Total Hours, Regular Earnings,…
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According to the producer price index database maintained by the Bureau of Labor Statistics, the average cost of computer equipment fell 3.8 percent between January and December 2018. Let's see whether these changes are reflected in the income statement of Gonzalez Industries for the year ended December 31, 2018. Sales Revenue Cost of Goods Sold Gross Profit Selling, General, and Administrative Expenses Interest Expense Income before Income Tax Expense Income Tax Expense Net Income Required 1 Required 2 2018 $ 117,000 68,500 48,500 37,700 Year 670 10, 130 2,500 $ 7,630 2017 2018 2017 $ 145,500 Required: 1. Compute the times interest earned ratios for 2018 and 2017. 2. Does Gonzalez generate sufficient net income in both years (before taxes and interest) to cover the cost of debt financing? 78,300 67,200 40,400 Complete this question by entering your answers in the tabs below. 560 26,240 6,700 $ 19,540 Compute the times interest earned ratios for 2018 and 2017. (Round your answers to 1…
Problem 10.1A (Static) Computing gross earnings, determining deductions, journalizing payroll transactions. LO 10-2, 10-3, 10-4, 10-5, 10-7 Robin Market works for Cycle Industries. Her pay rate is $14.50 per hour and she receives overtime pay at one and one-half times her regular hourly rate for any hours worked beyond 40 in a week. During the pay period that ended December 31, 20X1, Robin worked 42 hours. She is married and claims three withholding allowances on her W-4 form. Robin's cumulative earnings prior to this pay period total $32,000. This week's wages are subject to the following deductions: 1. Social Security tax at 6.2 percent 2. Medicare tax at 1.45 percent 3. Federal income tax (use the withholding table shown in Figure 10.2b) 4. Health and disability insurance premiums, $180 5. Charitable contribution, $25 ces Required: 1. Compute Robin's regular, overtime, gross, ahd net pay. 2. Assuming the weekly payroll has been recorded, journalize the payment of her wages for the…
Carla Vista Company has the following data for the weekly payroll ending May 31: Hours Worked Employee M Tu W Th F S HourlyRate CPPDeduction Income TaxWithheld HealthInsurance A. Kassam 12 7 8 7 7 5 $16 $35.48 $93.70 $8 H. Faas 9 9 8 8 8 6 11 24.98 72.15 15 G. Labute 12 9 6 10 10 0 16 36.66 108.65 12 Employees are paid 1.5 times the regular hourly rate for all hours worked over 40 hours per week. Carla Vista Company must make payments to the workers’ compensation plan equal to 2% of the gross payroll. In addition, Carla Vista matches the employees’ health insurance contributions and accrues vacation pay at a rate of 4%. Prepare the payroll register for the weekly payroll. Calculate each employee’s EI deduction at a rate of 1.66% of gross pay Record the payroll and Carla Vista Company’s employee benefits
Hours Worked Hourly pay rate Gross pay (must show your work) 40 $15