Answered: Calculate the total monthly cost of the…

Business

Accounting

Calculate the total monthly cost of the sales representative's salary for each of the following months:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Nance Network Consultants, Incorporated uses the percentage-of-completion method to account for its…

A: In the 'completed contract method' of revenue recognition, all the revenue and profit of contract…

Q: Franklin Corporation paid one of its sales representatives $9,500 during the month of March. The rep…

A: Total costs comprise both variable and fixed elements,The variable cost per unit and fixed costs in…

Q: For the month of November, a suit buyer took markdowns totaling $1,600. During this month, the net…

A: A markdown is an amount by which you decrease the selling price.

Q: A worker earns $30,000 per month on the average and produces 30 units per day. Accordingly, the…

A: Effective labor cost per unit is the per unit cost incurred by labor in the production of a single…

Q: Calculate gross pay for each of the following employees. All are paid an overtime wage rate that is…

A: Overtime wage rate = regular wage rates x 1.5 times = $11.45/hour x 1.5 = $17.18/hour

Q: On the management feasibility on the last column the wages of the staff are calculated a Weekly b.…

A: Costing- It is the branch of the accounting structure that is connected with the computation of the…

Q: Rebecca Huang receives a regular salary of $3,120 a month and is paid 1½ times the regular hourly…

A: Calculate the salary per week:

Q: Kim Company pays $6,000 per month for renting the factory building. Compute rent cost per unit of…

A: Variable costs are costs that vary with the change in the level of output whereas fixed costs are…

Q: Ed works on a salary plus commission basis. He has a monthly basic salary of 15,000 pesos. For the…

A: Net pay is the pay which an employee receives from his or her employer for the month for which the…

Q: Given the following information, determine the burdened hourly wage rate for an equipment operator.…

A: According to the given question, we are required to compute the burdened hourly rate for an…

Q: nit of product sold. During March, the rep sold 140 units. Required Calculate the total monthly…

A: Variable Cost :— It is the cost that changes with change in units. It is constant in per unit for…

Q: days Sales Outstanding is over 90 days and the Payment Interval is significantly less than 30 days.…

A: Operating cycle of a company should be less as it ensures liquidity and cash flow into the company.…

Q: Mickie is a regional supervisor who earns a base salary of $45.600 per year plus a 3% commission on…

A: Gross pay is the total amount of money an employee earns from their employer before any deductions…

Q: Production workers for Thornton Manufacturing Company provided 5,200 hours of labor in January and…

A: Insurance expense per hour = Total premium paid / Total labor hours = $101850/48500 hours = $2.10…

Q: Benson Corporation paid one of its sales representatives $6,000 during the month of March. The rep…

A: The base salary is constant no matter how many units sold. We can think of it as the fixed cost. The…

Q: Campbell Corporation paid one of its sales representatives $5,500 during the month of March. The rep…

A: First, compute the fixed cost as shown below: Total salary cost = $5,500 Variable cost = 140*$11 =…

Q: Finch Company began its operations on March 31 of the current year. Finch has the following…

A: Cash payments means the amount of cash expected to be paid by an entity during a period. It could…

Q: A registered nurse makes $14.00 per hour. Next month, she will receive a 3% increase in her hourly…

A: When the employee receive wages on the basis of number of hours worked ,it is known as wage rate per…

Q: Dixon sales has five sales employees that receive weekly paychecks. Each earns $12 per hour and each…

A: Journalize the recognition of the pay period ending January 19th which will be paid to the employees…

Q: Wall Design Services billed its customers a total of $490,200 for the month of August, including 9…

A: Sales tax and federal excise tax are collected by firm from their customers are the liabilities for…

Q: Copley Paper Supply expects to have the sales and expenses shown for May, June, and July. The…

Q: Cabrera Accounting pays Shanaya Kapoor $63,480 per year. (Round your answers to two decimal places…

A: Labor cost is a direct cost considered a part of prime cost. It is a variable cost and the cost of…

Q: is the last day of the month and fiscal year, your manager asks you to create an invoice for $10,000…

A: Revenue should be recognise as and when all performance obligations satisfied and the amount of…

Q: A manufacturing company's payroll register shows the following inofrmation for December: Salary…

A: Journal entries are prepared to record the day-to-day transactions of the business that are of…

Q: Exercises Compare the pay for the indicated period. 1. Yearly Job A $19,700 per year 2. Ye: Jot

A: Comparison the pay between JOB A and JOB B as under

Q: Calculate the gross earnings per pay period (in $) for the given pay schedule. (Round your answers…

Q: acob is a salesman who receives a $1,100 a week. he receives a 12% commissions on all sales. sales…

A: A straightforward definition of commission accounting is any revenue or cost incurred by the company…

Q: During the last week in October, Ezekiel worked a total of 45 hours and had no idle time. He is paid…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Adams Air is a large airline company that pays a customer relations representative $16,425 per…

A: - Payment to customer relations representative: $16,425 per month - Expectation to process total…

Q: Ryan Lawrence's hourly rate is $16. He receives 1 and half times the regular rate for any hours…

A: Gross pay refers to the total amount received by the employer from their employee without any…

Q: During the last week in October, Bricks worked a total of 45 hours and had no idle time. He is paid…

A: Wages included in manufacturing overhead cost = (No. of hours worked - 35 hours) x wages rate x 50%

Q: If an employee is paid an hourly rate of $25.50 for regular-time work, what are the employee's…

A: Following is the answer to given question

Q: Complete the following table. Note: Round your "gross pay" to the nearest cent. Employee Donna Swan…

A: Gross pay is the total amount earned by the employee for the time he worked. It also includes…

Q: Berger Mortgage Co. provides the following data on its loan application processing activities for…

A: The cycle efficiency is calculated as process time divided by manufacturing cycle time.

Q: During a typical year, Mark's monthly sales compensation has ranged between $13,000 and $17,400 per…

A: The high-low method is used to differentiate the mixed costs. The Mixed cost is the combination of…

Q: cost formula for the maintenance department of the Eifel Co. is $6,500 per month plus $3.50 per…

A: Concept used: Total maintenance cost is calculated by adding the variable cost to the fixed cost.

Q: Choose the best definition of gross pay A. The number of hours over 40 that are worked in a week.…

A: Gross income is the net amount earnings of the individual before taking any deductions into…

Q: man worked 47 hours in one week. His regular pay was S7.80 per hour with time and a half for…

A: If an employee works more than a specified number of hours in a week, the additional hours are…

Q: Copley Paper Supply expects to have the sales and expenses shown for May, June, and July. The…

A: Budget is the forecasts or estimates that are made for future period. Cash budget shows expected…

Q: Solomon Corporation paid one of its sales representatives $4,000 during the month of March. The rep…

A: The fixed expenses remain constant at every level of production but variable Expenses change with…

Q: Brendan is an hourly worker. During a week pay period, he worked the following hours and minutes:…

A: Day hours minutes Monday 8 45 Tuesday 7 52 Wednesday 8 0 Thursday 9 36 Friday 8 24 Total…

Question

Calculate the total monthly cost of the sales representative's salary for each of the following months:

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 4 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Jill Cole’s regular rate of pay is $ 10 per hour with one and one-half times her regular rate for any hours that exceed 44 hours per week. She worked 52 hours last week. Her gross wages were * $ 520. $ 440. $ 560. $ 880.
How much is charge to overtime pay?
Rasmussen Corporation expects to incur indirect overhead costs of $80,000 per month and direct manufacturing costs of $12 per unit. The expected production activity for the first four months of the year are as follows. January February March April Estimated production in units 6,000 7,000 3,000 4,000 Required Calculate a predetermined overhead rate based on the number of units of product expected to be made during the first four months of the year. Allocate overhead costs to each month using the overhead rate computed in Requirement a. Calculate the total cost per unit for each month using the overhead allocated in Requirement b.
Melissa Grossman is the manager of a video store and earns $9.50 per hour with time-and-a-half for overtime and double-time on Sundays. What is Melissa's total gross pay for last week, if she worked 43 hours Monday through Saturday, plus a 5-hour shift on Sunday?
Sagar
Determine the gross pay and the net pay for each of the three employees for the current pay period. Assume the normal working hours in a week are 40 hours. If required, round your answers to two decimal places.
OMR 232,293 .c O OMR 220,084 d O OMR 220,720 e O A Company uses a job-order costing system with a single plantwide predetermined overhead rate based on labor-hours. The company based its predetermined overhead rate for the current year on total estimated manufacturing overhead cost of $120,000 and 6,000 labor-hours. The job sheet of Job1112 shows that the number of units produced in this job order is 5 units. This job required 500 labor- thours and incurred direct materials cost of $10.000 and direct labor costs of $30,000. The unit product cost for Job1112 is None of the given answers .a O $2,000 .b O $50,000 .c O $32,000 .d O $10,000 .e O الصفحة التالية COURSE OUTLUNE SPRING2021 1500R 144H CURVED High h Te
During December, Littleton designed a landscape plan and the client prepaid $6,000. Littleton recorded this amount as Unearned Revenue. The job will take several months to complete, and Littleton estimates that the company has earned 50 percent of the total revenue during the current year. Journalize the subsequent journal entry that Littleton will record when the job is complete.
A department store apportions payroll costs to the various departments on the basis of the number of payroll checks issued by each department. Accounting costs are apportioned on the basis of the number of reports generated for each department. The payroll costs for the year were $150,000, and the accounting costs for the year totaled $70,000. The number of payroll checks issued and the number of reports generated for each department are as follows: Number of Number Payroll Checks of Reports Department A 396 60 Department B 1,278 90 Department C 126 150 a. Determine the amount of payroll cost to be apportioned to each department. Рayroll Cost Department A Department B Department C b. Determine the amount of accounting cost to be apportioned to each department. Accounting Cost Department A Department B Department C
THE HOURLY RATE FOR AN EMPLOYEE WHO EARS $400 PER WEEK FOR A NORMAL 38-HOUR WORKWEEK IS HOW MUCH?
Willamette Manufacturing estimated that its total payroll for the coming year would be $650,000. The workers' compensation insurance premium rate is 0.3%.
Jenny Inc. has the following projected costs for the second quarter of 20YY: Projected Costs Expenses April May June Selling and marketing expenses (i) $200,000 $250,000 $300,000 Office insurance expense (ii) 800 800 800 Office depreciation expense 500 500 500 Property tax expense (iii) 700 700 700 Jenny’s payment policy for selling and administrative expenses is as follows: Of the selling and marketing expenses, 50% is paid in the month they are incurred; the remaining 50% to be paid in the following month. The selling and admin expense payable at the end of March was $70,000, which represents 50% of March’s selling expenses. Insurance expense is $800 a month; however, the insurance is paid quarterly in the first month of each quarter, (i.e., in January, April, July, and October). Property taxes are paid once a year in December. The projected total selling and admin expenses for April are: Group of answer choices None of the above $172,400 $202,000 $204,400