Assuming an average work week to be 40 hours, complete the following table todetermine the final gross pay (assume overtime is paid at the rate of time and a half):TotalRegularRegularHoursOvertimeRegularРayOvertimeHoursOT RateGross PayRateHoursрay46$13.40$20.1040$536.00$120.60$656.60Sampleworked13.40x1.5%=$reg pay x1.513.40 x 40$656.60406.$536.00616.4020.1x6$120.60out$20.10(if no OT pd)54$21.0047.25$14.25Other Pay Considerations

Gross pay: When an employer and employee reach an agreement on a basic wage, it does not include…

Assuming an average work week to be 40 hours, complete the following table to determine the final gross pay (assume overtime is paid at the rate of time and a half): Total Regular Regular Overtime Regular Pay Overtime Hours OT Rate Gross Pay Rate Hours Hours рay 46 $13.40 $20.10 40 6. $536.00 $120.60 $656.60 Sample worked Sreg pay x 1.5 13.40x 13.40 x 40 $656.60 1.5%= 40 $536.00 616.40 20.1x6 $120.60 out $20.10 (if no OT pd) 54 $21.00 47.25 $14.25 Other Pay Considerations

Assuming an average work week to be 40 hours, complete the following table to determine the final gross pay (assume overtime is paid at the rate of time and a half): Total Regular Regular Overtime Regular Pay Overtime Hours OT Rate Gross Pay Rate Hours Hours рay 46 $13.40 $20.10 40 6. $536.00 $120.60 $656.60 Sample worked Sreg pay x 1.5 13.40x 13.40 x 40 $656.60 1.5%= 40 $536.00 616.40 20.1x6 $120.60 out $20.10 (if no OT pd) 54 $21.00 47.25 $14.25 Other Pay Considerations

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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The following information pertains to Whitestone Industries for the year: Estimated total overhead costs Estimated direct labor costs Actual direct labor costs Actual overhead costs Activity base $37,500 25,000 22,500 36,000 Direct labor costs What is the predetermined overhead rate for Whitestone Industries for the year? Oa. 62.5% Ob. 66.7% Oc. 150% Od. 160%
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The managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c. Click the icon to view the monthly data. a. Develop a sim Overhead Costs (Round the const Monthly Overhead Costs and Billable Hours Data Overhead Costs Billable Hours $385,000 2,000 $425,000 3,000 $445,000 4,000 $496,000 5,000 $560,000 6,000 $580,000 7,000 - clude the $ symbol in your answers.)
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Q : 1 Calculate the labour “cost to company” of JP Mthembu for the week ended 13 July 2019.Q : 2 Suppose the expected labour cost of all the employees for the week was R150 000. It is possible that it may be reduced to R130 000 if overtime is avoided but due to productivity issues the cost could increase to R160 000.Calculate the expected labour cost using three-point cost estimating. INFORMATIONJP Mthembu is employed by Solar Manufacturers in Project P. The following are his wage details for the week ended 13 July 2019:Hours worked : Sunday - 4hoursMonday to Thursday - 8 hours:Friday - 9 hours:Saturday - 5 hoursPension fund: employee’s deduction - 7.5 of normal hoursPension fund: employer’s contribution - 9% of normal wagesUnemployment insurance fund: employee’s deduction - 1% of gross wageUnemployment insurance fund: employer’s contribution - 1% of gross wageRemuneration during normal working hours - R150 per hourNormal working week (Monday to Friday) - 8 hours per…