PSc 2-11 Calculate Gross Pay for a Piecework EmployeeCalculate gross pay for each of the following employees. All are paid an overtime wage rate that is 1.5 times their respective regular wage rates.NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.1: Joseph Emanuel assembles merchandise and is paid $0.12 for each unit assembled. During the most recent week, he worked 48 hours and assembled 5,725 units.Gross Pay = $2: Dennis Tillman is a telemarketer, who is paid $0.36 for every telemarketing call he places. During the most recent week, he worked 42 hours and placed 1,596 calls.Gross Pay = $3: Ray Humphrey assembles merchandise and is paid $0.05 for each unit assembled. During the most recent week, he worked 55 hours and assembled 14,123 units.Gross Pay = $4: Cory Petersen is a telemarketer who is paid $0.28 for every telemarketing phone call he places. During the most recent week, he worked 53 hours and placed 1,633calls.Gross Pay = $

Gross Pay: Gross pay, often known as gross wages, is the entire amount that each employee receives…

Answered: Calculate gross pay for each of the…

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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Mossdale Manufacturing Company pays the regular hourly rate for the first 40 hours worked and time and a half thereafter. Sandra Beal worked 46 hours this week. Her regular hourly rate is $15.60. Compute Beal's total earnings.
The company ABC S.A. employs three employees (A, B, C). The daily working time is 8 hours, while the standard production during the 8-hour period has been set at 50 product units. The hourly wage is estimated at 5€ and the fixed daily fee is 40€. Each worker shall produce the following product units per day: Worker A: 40 units, Worker B : 60 units, Worker C : 70 units Determine the total daily remuneration for each of the three employees, if the company applies: the Rowan subsidised fee system. the Hasley subsidised fee system.
4. Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450 hours per the standard cost card. Their employees were paid $15.75 per hour for the month of June. The standard cost card uses $15.50 as the standard hourly rate. NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). For the variance conditions, your answer is either "F” (for Favorable) or "U” (for Unfavorable) - capital letter and no quotes. Complete the following table of variances and their conditions: Variance Variance Amount Favorable (F) or Unfavorable (U) Labor Rate ? ? Labor Time ? ? Total DL Cost Variance ? ?
Colleen Prescott is a salaried employee who works fluctuating work schedules. She is paid a fixed salary of $920 each week, with an agreement with her employer that overtime (over 40 hours) will be paid at an extra half-rate, based on the actual hours worked. This week she worked 42 hours. Compute the following amounts. Round all divisions to two decimal places and use the rounded amounts in subsequent computations. Round your final answers to the nearest cent. a) the overtime earnings? b) the total earnings? c) If this was a BELO plan with a pay rate of $21 per hour and a maximum of 45 hours, how much would Prescott be paid for 42 hours?
Amy Andrews is a CPA who works as a managerial accounting consultant for a variety of firms. To determine her hourly rate, Amy uses a cost-plus pricing system, which she updates each year. The hourly cost of her assistant (including taxes and benefits) is $18, the hourly cost of her office space is $3, the hourly cost of her marketing and other overhead materials is $5, and Amy's own hourly salary (again, including taxes and benefits) is $84. Amy adds a 30% premium to her costs. What is her hourly rate using a cost-plus pricing strategy?
In March, Stinson Company completes Jobs 10 and 11. Job 10 cost $27,000 and Job 11 $34,000. On March 31, Job 10 is sold to the customer for $43,300 in cash. Journalize the entries for the completion of the two jobs and the sale of Job 10. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 31 31 (To record the completion of the two jobs) (To record the sale Job 10) (To record the cost of the job sold) Debit Credit
4. Sam Tully works two separate jobs for Mountain Company. During the week, Job A consisted of 38 hours at $20 per hour; Job B involved 15 hours at $14 per hour.What is Sam’s total earnings for this workweek if Mountain Company uses the average rate basis for calculating overtime?
Brian Packer worked the following schedule: Monday, 9 hours; Tuesday, 7 hours 34 minutes; Wednesday, 8 hours 23 minutes; Thursday, 8 hours 16 minutes; Friday, 8 hours. The employer pays overtime for all time worked in excess of 40 hours per week. Required: Determine Brian's total time worked according to the (a) quarter-hour method and (b) the hundredth-hour method. Which is the more favorable method for Brian, quarter-hour or hundredth-hour? (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Brian Packer Quarter-Hour Time hours Hundredth-Hour Time More Favorable Method hours
In March, Sandhill Company completes Jobs 10 and 11. Job 10 cost $24,000 and Job 11 $36,000. On March 31, Job 10 is sold to the customer for $42,000 in cash. Journalize the entries for the completion of the two jobs and the sale of Job 10. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 Debit Credit 31 (To record the completion of the two jobs) 31 (To record the sale Job 10)
Make an Excel spreadsheet to compute gross wages due each employee under federal wage-hour law. See notes below. a. Ryan is normally paid $1,000 for a 40-hour workweek. One week, he works 46 hours. b. Latisha is normally paid $1,200 for a 40-hour workweek. One Monday she is out sick but receives 8 hours sick pay. She then works 40 hours Tuesday–Friday. c. Al is normally paid $500 for a 40-hour workweek. One week, he works 45 hours. d. Lee is normally paid $1,500 for a 40-hour workweek. To make up for leaving early one Friday, he works 44 hours this week. THANK YOU FOR YOUR HELP.
Ivanhoe Company purchases $54,000 of raw materials on account, and it incurs $64,800 of factory labor costs. Supporting records show that (a) the Assembly Department used $25,920 of direct materials and $37,800 of direct labor, and (b) the Finishing Department used the remainder. Journalize the assignment of the costs to the processing departments on March 31. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 31 (To record materials used) (To assign factory labor to production) Debit Credit

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