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- Job Order Cost Accounting for a Service Company The law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred during July: July 3. Charged 520 hours of professional (lawyer) time to the Obsidian Co. breech of contract suit to prepare for the trial, at a rate of $210 per hour. 10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $24,100. 14. Charged 190 hours of professional time for the Obsidian trial at a rate of $280 per hour. 18. Received invoice from consultants Wadsley and Harden for $62,100 for expert testimony related to the Obsidian trial. 27. Applied office overhead at a rate of $40 per professional hour charged to the Obsidian case. 31. Paid administrative and support salaries of $20,200 for the month. 31. Used office supplies for the month, $6,800. 31. Paid professional salaries of $168,600 for the month. 31. Billed Obsidian $316,900 for successful…Problem 7-6 Weekly Wage Payment Entries and the Month-End Wages Payable Adjusting Entry Baker Construction, Inc. pays its employees each Friday for the work they performed that week. Baker's employees only work Sunday. Baker produces monthly financial statements; thus they prepare adjusting entries at the Monday through Friday. They do not work on Saturday or end of each month. For the month of June, the last payday was on Friday June 25th. The last day of June was on Wednesday June 30th. The first payday of July was on Friday July 2nd. The following partial calendar shows these days and dates: -6 age Payı Sunday Monday Tuesday Wednesday Thursday Friday ent 1 -- W Saturday Accou June 20 June 21 June 22 June 23 June 24 Juņe 25 June 26 June 27 June 28 June 29 June 30 July 1 July 2 July 3 The following table shows the amount the employees were paid on Friday June 25th and on Friday July 2nd. The table also shows the data required to calculate the amount the employees earned for the last…Dressler Company's weekly payroll paid on Fridays totals $8,000. Employees work a 5 day week. Prepare Dresslers journal entry to record the $8,000 cash payment on Friday January 2.
- Computing Overtime Rate of Pay and Gross Weekly Pay Rebecca Huang receives a regular salary of $3,120 a month and is paid 12 times the regular hourly rate for hours worked in excess of 40 per week. a. Calculate Huang's overtime rate of pay. %$4 overtime pay per hour b. Calculate Huang's total gross weekly pay if she works 45 hours during the week.eBook Chart of Accounts Payroll Register General Journal Instructions NO. OI Mallal TOLAI HOUIS TOlal Eamings Name Allowances Status Worked Feb. 9-15 Rate Jan. 1-Feb. 8 Barone, William 40 $14.00 $3,360.00 Hastings, Gene 4 M 45 15.00 3,870.00 Nitobe, Isako 3) 46 12.00 3,168.00 Smith, Judy M. 42 13.00 3,276.00 2. Tarshis, Dolores S. 39 14.50 3,480.00 Social Security tax is withheld from the first $128,400 of earnings at the rate of 6.2%, Medicare tax is withheld at the rate of 1.45%, and city earnings tax at the rate of 1%, both applied to gross pay. Hastings and Smith have $35 withheld and Nitobe and Tarshis have $15 withheld for health insurance. Nitobe and Tarshis have $25 withheld to be invested in the bakers' credit union. Hastings has $18.75 withheld and Smith has $43.75 withheld under a savings bond purchase plan. Karen's Cupcakes' payroll is met by drawing checks on its regular bank account. The checks were issued in sequence, beginning with No. 365. Required: 1. Prepare a…Required information Exercise 9-13A (Static) Computation of net pay and payroll expense LO 9-5 [The following information applies to the questions displayed below] The following information is available for the employees of Webber Packing Company for the first week of January, Year t 1. Kayla earns $28 per hour and 1½ times her regular rate for hours over 40 per week. Kayla worked 52 hours the first week in January, Kayla's federal income tax withholding is equal to 15 percent of her gross pay. Webber pays medical insurance of $50 per week for Kayla and contributes $50 per week to a retirement plan for her. 2. Paula earns a weekly salary of $1,600, Paula's federal income tax withholding is 18 percent of her gross pay. Webber pays medical insurance of $80 per week for Paula and contributes $100 per week to a retirement plan for her. 3. Vacation pay is accrued at the rate of 2 hours per week (based on the regular pay rate) for Kayla and $60 per week for Paula. Assume the Social Security…
- eBook Print Item Question Content Area A company has the following transactions during the week. Purchase of $1,100 raw materials inventory Assignment of $400 of raw materials inventory to Job 5 Payroll for 25 hours with $1,250 assigned to Job 5 Factory utility bills of $760 Overhead applied at the rate of $10 per hour What is the cost assigned to Job 5 at the end of the week? $fill in the blank 1Question text Lidge Company of Texas (TX) is classified as a monthly depositor and pays its employees monthly. The following payroll information is for the second quarter of 20--. WITHHOLDINGS EMPLOYER'S Wages OASDI HI FIT OASDI HI April $86,100 $ 5,338.20 $1,248.46 $ 9,650 $ 5,338.20 $1,248.45 May 92,500 5,735.00 1,341.26 10,005 5,735.00 1,341.25 June 73,400 4,550.80 1,064.30 8,995 4,550.80 1,064.30 Totals $252,000 $15,624.00 $3,654.02 $28,650 $15,624.00 $3,654.00 The number of employees on June 12, 20-- was 11. a. Complete the following portion of Form 941. What are the payment due dates of each of the monthly liabilities assuming all deposits were made on time, and the due date of the filing of Form 941 (year 20--)?7. ALGEBRA Tobias Gold sells computers al The Office Center. He is guaranteed a minimum salary of $1,959 per month plus 6.3 commISSIon on total sales. Ilo much in total sales does he need in order to have a gross pay for the month of $2,78184?
- Chapter 9 Homework - Payroll (Homework) Question is : A paving company has 24 employees, 15 with gross earnings of $355 per week and nine with gross earnings of $385 per week. What is the total social security and Medicare tax (in $) the company must send to the Internal Revenue Service for the first quarter of the year?11. The sales clerks of Teresa's Treasures are paid a salary of $225 per week plus a commission of 8% on all sales they make. Find the amount of commission and gross earnings for these employees. (Round your answers to 2 decimal places. Omit the "$" sign in your response.) Sales for the Week Name Commission Gross Earnings Tina Valendez $2,392.50 $4 Jan Yarrow $3,480.75 2$ $4Given the following: 31-day billing cycle 10/5 billing Data Previous Balance $3,300 10/11 Charge $ 320 10/18 Charge $1,240 10/25 Payment $ 400 11/1 Charge $ 630 The average daily balance is: