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Given Manufacturing Company produces a variety of products. The firm operates 24 hours per day with 3 daily work shifts. The first shift worker receive regular pay. The 2nd shift receive 10% pay premium, and the 3rd shift receive 20% premium. In addition, the firm pays overtime premium of 50% based on the pay rate for the 1st shifts. All labor premiums are included in overhead. All overtime were made on the 1st shift. Determine the total amount of labor premiums charged to overhead. Use the data below:  7.The total amount of payroll for the period is *

Given Manufacturing Company produces a variety of products. The firm operates 24 hours per day with 3 daily work shifts. The first shift worker receive regular pay. The 2nd shift receive 10% pay premium, and the 3rd shift receive 20% premium. In addition, the firm pays overtime premium of 50% based on the pay rate for the 1st shifts. All labor premiums are included in overhead. All overtime were made on the 1st shift. Determine the total amount of labor premiums charged to overhead. Use the data below:  7.The total amount of payroll for the period is *

FINANCIAL ACCOUNTING
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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6.Given Manufacturing Company produces a variety of products. The firm operates 24 hours per day with 3 daily work shifts. The first shift worker receive regular pay. The 2nd shift receive 10% pay premium, and the 3rd shift receive 20% premium. In addition, the firm pays overtime premium of 50% based on the pay rate for the 1st shifts. All labor premiums are included in overhead. All overtime were made on the 1st shift. Determine the total amount of labor premiums charged to overhead. Use the data below: 

7.The total amount of payroll for the period is *

 
 
 
 
The actual payroll for the month is as follows: Total wages for 16,000 hours ? Wage rate for the 1st shift P35 per hour Total regular hours worked 15,000
Transcribed Image Text:The actual payroll for the month is as follows: Total wages for 16,000 hours ? Wage rate for the 1st shift P35 per hour Total regular hours worked 15,000
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