what is the estimated liability for bonus?
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Q: An employee's rate of pay is $36 per hour, with time-and-a-half for all hours worked in excess of 40…
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Q: Rob is a quality inspector on the assembly line of a manufacturing company. He is paid P16 per hour…
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Four factory workers and a supervisor make a team in the Machining Department. The supervisor earns P100 per hour, and the combined hourly charge of the four workers is P320. Each employee is entitled to a 2-week paid vacation and a bonus equal to 4 week's wages each year. Vacation pay and bonuses are treated as indirect costs and are accrued over the 50 week work year. A provision in the union contract does not allow these employees to work in excess of 40 hours per week.
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- Exercise 4 (Direct Labor Budget) The Production Department of the Laguna Plant óf JC Corporation has. submitted the following forecast of units to be produced at the plant for each quarter of the upcoming fiscal year. The plant produces high-end outdoor barbeque grills. 1s' quarter 5,000 2nd quarter 4,400 3rd quarter 4;500 4th quarter 4,900 Units to be produced Each unit requires 0.40 direct labor-hours and direct labor-hour workers paid P11 per hour. Required: 1. Construct the company's direct labor budget for the upcoming fiscal year, · assuming that the direct labor work force is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. 2. Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor work force is not adjusted each quarter.Morris Lann works for Talbert Electronics. He is a shared employee; he works in the manufacturing department and has been trained to work the sales counter when needed. He was asked to work the sales counter for two days, five hours each day during other employees' vacations. When he works in the manufacturing department, he earns $16.50 per hour. Morris earns a $2.50 pay differential for working the sales counter. He worked a total of 39 hours and 30 minutes during the week. Morris is married filing joint with no dependents. Compute Morris’s pay for the week ending August 20 using the hundredth-hour system. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)Volpe Corporation has only four employees who are all paid $860 per week. Compute the total FICA taxes that the employer would withhold from the four employees each week and the amount the company would pay as its own liability for the employer's share of the FICA taxes on the weekly wages of the four employees: Employees' total OASDI $fill in the blank 1 Employees' total HI $fill in the blank 2 Employer's total OASDI $fill in the blank 3 Employer's total HI
- 13.Gibs Enterprises operates its factory on a two shift basis and pays a late shift differential of 15 percent above the regular wage rate of P18 per hour. The company also pays a premium of 50 percent for overtime work. During the year, work occurred in the following categories. The amount of labor that will be charged to factory overhead is *Volpe Corporation has five employees who are all paid 1,020 per week. Compute the total FICA taxes that the employer would withhold from the five employees each week and the amount the company would pay as its own liability for the employer's share of the FICA taxes on the weekly wages of the five employees:The company has 3 employees with the following working hours: A. 35 hours Tariff/hour IDR 700 B. 50 hours Tariff/hour IDR 900 C. 48 hours Tariff/hour IDR 1,200 The company stipulates the standard working hours of employees is 40 hours (minimum wage = 40 hours) while if it is above 40 hours the difference is considered as overtime with an overtime premium of 50% above the wage rate. The 15% tax is managed by the company. Requested: 1. Make an employee salary distribution 2. Calculate the net salary received by the employee 3. Make the required journal
- This is Salary calculationPower is a contract worker. His basic pay is calculated at 40 hours at a normal rate of R50 per hour. In certain week, he worked 40 hours at normal rate. He then worked 13 hours overtime at 1,5 rate of the normal working hours. On Sunday and public holidays, he worked 7 hours at a rate of 2 times the normal rate. Calculate his gross pay. And calculate his net pay if the overtime and abnormal overtime rates remain the same per hour but Power worked for a four week month and that R1200 medical aid contribution is deducted.Breakin 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 $2,410 per week $28 per hour $50 per hour Overtime earnings rate Not applicable 1.5 times hourly rate 2 times hourly rate Number of withholding allowances 3 2 1 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 $356.90 to 28% of the difference between the employee's amount subject to withholding and $1,796.00. Assume further that the social security tax rate was 6%, the Medicare tax rate was 1.5%, and one withholding allowance is $70. 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…
- Rob is a quality inspector on the assembly line of a manufacturing company. He is paid P16 perhour for regular time and time and a half for all work in excess of 40 hours per week. He isclassified as a direct labor worker. Rob's employer offers fringe benefits that cost the company P4 for each hour of employeetime (both regular and overtime). During a given week, Rob works 45 hours but is idle for 2hours due to material shortages. The company treats all fringe benefits as part of manufacturingoverhead. How much of the worker's wages for the week would be classified as manufacturing overheadcost?Volpe Corporation has only four employees who are all paid $1,200 per week. Compute the total FICA taxes that the employer would withhold from the four employees each week and the amount the company would pay as its own liability for the employer's share of the FICA taxes on the weekly wages of the four employees: Employees' total OASDI $fill in the blank 1 Employees' total HI $fill in the blank 2 Employer's total OASDI $fill in the blank 3 Employer's total HIBreakin 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 $2,610 per week $36 per hour $50 per hour Overtime earnings rate Not applicable 1.5 times hourly rate 2 times hourly rate Number of withholding allowances 3 2 1 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 $356.90 to 28% of the difference between the employee's amount subject to withholding and $1,796.00. Assume further that the social security tax rate was 6%, the Medicare tax rate was 1.5%, and one withholding allowance is $70. 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…
