Answered: If you Know : 1- Actual time ?. 2-…

If you Know : 1- Actual time ?. 2- Standard time ( 65 ) hour. 3- Saved time ( 12 ) hour . 4- Rate per hour ( 19500 )D. R. : Calculate total wages by using ( Halsy method ).

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: Create a time card for Bill Brown, employee number 145, for the pay period ending on August 31 (use…

A: B & C SPOTTING GOODS--TIME CARD B & C SPOTTING GOODS--TIME CARD Employee No 145 Name…

Q: Identify the independent and dependent variables.

A: Independent Variable : An independent variable is the factor intentionally altered or manipulated in…

Q: Rowan method

A: Under Rowan method wages are calculated based on predetermined standard time that is required to…

Q: Question 25 of 30 . True or False - When creating a time slip in Sage 50, you can only enter the…

A: Time slip represents the records of the time spent by the employees on the activities of the…

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

A: All amounts are in dollar.

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: Please show all equations and work as needed. If possible, please type the work so that it may be…

A: The computation of cost of trade credit is as follows:Here,3/5 net represents 3% discount is…

Q: Complete the following table (assume the overtime for each employee is a time-and-a-half rate after…

A: Solution: Total time worked in the week = 12 + 8 + 10 + 8 + 6 + 3 = 47 hours Regular time = 40 hours…

Q: Next Question Find the overtime rate, the amount of earnings at regular pay, the amount at overtime…

A: Overtime Rate: A set rate of remuneration for time spent working more than the regular working…

Q: 1. Create a new Excel sheet in which you will find the delivery cost for each delivery. a. Create a…

A: Stepwise Details of how to set up this Excel sheet, including the VLOOKUP function and the pivot…

Q: What is the annual salary equivalent to a monthly salary of $2429.44? What is the biweekly salary…

A: We need to compute equivalent earnings for salary across the different time frames.

Q: Required: 1. Compute Chin's regular pay, overtime pay, gross pay, and net pay. If required, round…

A: Explanation of Solution: Gross pay: Gross pay is a payment made to an employee for completion of…

Q: Antonio's Plumbing Service Name: Max Mullally Social Sec. No.: 963-29-1025 Regular Overtime EARNINGS…

A: A payroll register is a document in which the details regarding net salaries or wages of the…

Q: Computing Overtime Rate of Pay and Gross Weekly Pay

A: Gross pay is calculated by multiplying an employee's hourly rate or salary by the number of hours…

Q: Question 44 Below are example of (Fill in the blank) • Revenue per Employee • Expense per Employee •…

A: Profit and Loss Statement (P&L), or Statement of Revenue or Activity, is a financial statement…

Q: PRACTICAL EXERCISE 1.4 A Payroll consists of Basic Pay, Allowances, Gross Salary, Deductions and Net…

A: Given that: Allowances = 23% of Basic Pay Deductions = 12% of Gross Salary

Q: Find the number of regular hours and the overtime hours (hours over 40) for the employee. Then…

A: The actual number of hours worked by the employee which are over and above regular working hours is…

Q: Direction: Using the spreadsheet, compute for the corresponding contributions of the…

A: Formula: Total deductions = SSS + Phil Health + Pagabig + Tax

Q: 3. Complete the table. Round all amounts to the nearest dollar. Approximate Net Pay as Percent of…

A: Weekly earnings can be calculated per week, It means your earnings from your employer determined by…

Q: If you Know : Actual time ( 3:4 ) Standard time ( 10) hour. Saved time ( ? ) hour Rate per hour (…

A: Given that: Standard time = 10 hours Actual time = 3:4 Rate per hour = 5250

Q: f. Wages incurred during June, $39,000. Labor time records for the month: Job 120, $3,600; Job 121,…

A: All direct manufacturing costs incurred are debited to work in process inventory account and all…

Q: Question 3 Dave works as a mechanic. His payroll details are provided below. 1. Basic Working Hours:…

A: Lets understand the basics. Gross wages means a wages before considering any deduction. It is a…

Q: Please Make sure you round it before calculating the hours

A: Step 1: Completing the Time Card for Mr. Black Review the provided schedule of Mr. Black's work…

Q: pay

A: Concept:- To Compute gross Earnings Per Pay Period divide the total amount of yearly earnings by…

Q: O'Riley Company's payroll costs and fringe benefit expenses include the normal CPP and El…

A: The fringe benefits are an additional benefit received by an employee other than his/her wages. Life…

Q: Lidle Company needs time to calculate employees’overtime payments by the end of the pay period…

A: An employee earns wages for the work done by him in the organization.

Q: A From the following particular you calculate total wages under Rowar plan.

A: Wages = wages means a fixed regular payment earned for work or services, typically paid on a daily…

Q: Number of employees is a suitable basis of apportionment for the following costs EXCEPT:…

A: A firm incurs various types of cost in the process of manufacturing of goods and services. The types…

Q: c) Time cards of direct workers show 1200 hours worked on various jobs during the month for $20 per…

A: Direct worker means the worker who are working in factory and directly involved in production of…

Q: Presented below is the GROSS Pay of each employee at First Choice. EE 1 2 3 4 5 6 7 8 Q1 3500 8900…

A: Employer has to pay the tax to the federal government. The tax rate is 0.6% on the first $7,000…

Q: XYZ company paid their employees $1000 for wages this week for work done this week. The journal…

A: >The problem is based on Matching Concept of accounting, read with accrual system of accounting.…

Q: 1. A secretary works a 35-hour week for which she is paid $262.50. She works 6 hours over- time on…

A: The sum of money paid by the employer to its workers for a specific period is known as wages. The…

Q: Prepare a schedule showing the employer's total cost of wages for November by function. (Round…

A: See the attachment below for answer 1)Answer 1) Prepare a schedule showing the employer’s total…

Q: 1. From the following particulars, You are required to calculate total wages under Hallsay premium…

A: Here in this question we are required to calculate total wages in the Hallsay premium plan. In this…

Q: Unless instructed otherwise, compute hourly rate and overtime rates as follows: 1. Carry the hourly…

A: Payment would be calculated Proportionately

Q: Annette Henri is paid an hourly wage of $10.90 for a 32-hour workweek of 4 days, 8 hours daily. For…

A: Total earnings are the sum of money that a person or business makes from all sources over the course…

Q: or a typical order, assume the following times (in hours): storage time (in between processes), 4.0;…

A: MCE refers to Manufacturing cycle efficiency is the measure which determine production time spent…

Q: Problem Instruction Unless instructed otherwise, compute hourly rate and overtime rates as follows:…

A: Given that:Job A consisted of 38 hours at $20 hourJob B consisted of 15 hours at $14…

Q: Unless instructed otherwise, compute hourly rate and overtime rates as follows: 1. Carry the hourly…

A: PLEASE LIKE THE ANSWER Answer = $ 210 As per FLSA, the employees will get overtime pay at the rate…

Q: Time wages are paid on the basis of ______ Choose one: a) Actual Time b) Time Saved c) Standard Time…

A: This technique is most established type of installment to laborers. In this technique, compensation…

Q: utista, D. De Santos, M. Motus, R. Reyes, A. МЕ Direct 45 МЕ-2 HF 4 Indirect 30 Indirect 30 HF

A: Payroll refers to the sum of money awarded or paid by the employer to its employees in order for the…

Q: nless instructed otherwise, compute hourly rate and overtime rates as follows: 1. Carry the…

A: Wage rate for one piece = 16 cents No. of units produced = 2976 Ides total piecework earnings =…

Q: Q.No.8. After selection of an Employee, the Human Resource Department has decided the following…

A: Given information is: Basic pay = Rs. 150 for regular hours (40) Weekly Bonus = Rs. 200 Overtime…

Question

تمرین
If you Know :
1- Actual time ?.
2- Standard time ( 65 ) hour.
3- Saved time ( 12 ) hour .
4- Rate per hour ( 19500 )D.
R. : Calculate total wages by using ( Halsy method ).
===:

Expert Solution

This question has been solved!

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

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

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

Bow to calculate gross wages
Choose the best definition of gross pay A. The number of hours over 40 that are worked in a week. B. A fixed amount of wages paid, usually on a yearly basis, regardless of how many hours are worked. C. The amount of money earned for a specific amount of time before any deductions are made.
Unless instructed otherwise, compute hourly rate and overtime rates as follows: 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate). 2. If the third decimal place is 5 or more, round to the next higher cent. 3. If the third decimal place is less than 5, drop the third decimal place. Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. Refer to Instruction 2-1. Bobbi Sox, a full-time student at California State University, works at the Northridge Shoe Shop. In order not to violate the FLSA, the least salary that Northridge could pay Sox for her 28-hour workweek is __________.
Y.19.
Now you try looking at a pay stub: XYZ Ine. XYZ Inc. 111 Centre Street, Toronto, ON X1X 1X1 Earnings Statement Period ending: 27/06/15 Pay date: 02/07/15 Social Insurance Number: 012 345 678 Other Benefits and Earnings Regular Stahol Information this perlod Y.T.D. 238.89 rate hours 38.76 this perlod 436.05 90.00 12.80 $538.85 Y.T.O. 795.40 90.00 31.82 11.25 Vacent 11.25 Vacpay Gross Pay 917.22 Deductions Statutory Federal Tax 80.83 119.31 14.96 39.38 EI 10.14 CPP 26.68 421.20 Net Pay TASK: Using the pay statement example, provide the missing information below: Pay period for this pay Total deductions this pay Employee ID information on this Amount that went into the stub employee's bank account this pay Is vacation being paid out or is it Amount paid this year towards the federal pension given as time off instead? What does STAHOL mean What is their hourly rate How many hours did they actually work this pay period, on the job? Statutory deductions this pay were: 2) 3) Calculate the…
Unless instructed otherwise, compute hourly rate and overtime rates as follows: 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate). 2. If the third decimal place is 5 or more, round to the next higher cent. 3. If the third decimal place is less than 5, drop the third decimal place. Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. Refer to Instruction 2-1. Evelyn receives an annual $25,700 base salary for working the territory in Alabama. A quota of $900,000 in sales has been set for that state. Evelyn receives an 8 percent commission on all sales in excess of $900,000. This year, the sales are $965,000. The total earnings due Evelyn this year are __________. Display keyboard shortcuts for Rich Content Editor
Subject:- Accounting
2. Prepare a general journal entry to record the payroll. The firm's general ledger contains a Wages Expense account and a Wages Payable account. Then assuming that the firm has transferred funds from its regular bank account to its special payroll bank account and that this entry has been made, prepare a general journal entry to record the payment of wages. If required, round your intermediate calculations and the final answers to the nearest cent and use the rounded answers in subsequent computations. If an amount box does not require an entry, leave it blank. GENERAL JOURNAL PAGE DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Oct. 14 fill in the blank 177445fc1f8a014_2 fill in the blank 177445fc1f8a014_3 fill in the blank 177445fc1f8a014_5 fill in the blank 177445fc1f8a014_6 fill in the blank 177445fc1f8a014_8 fill in the blank 177445fc1f8a014_9 fill in the blank 177445fc1f8a014_11 fill in the blank…
Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise, calculate hourly rates and overtime rates as follows: 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate). 2. If the third decimal place is 5 or more, round to the next higher cent. 3. If the third decimal place is less than 5, simply drop the third decimal place. Examples: Monthly rate $1,827Weekly rate ($1,827 × 12)/52 = $421.615 rounded to $421.62Hourly rate $421.62/40 = $10.540 rounded to $10.54O.T. rate $10.54 × 1.5 = $15.81 Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. Example 2-10 John Dilcher's is paid an hourly rate of $18.50 per hour, and he worked 49 hours this week. His pay would be calculated as follows: 49 hours × $18.50 = $906.50 9 hours ×…
Calculate Sam’s gross pay (he is entitled to time-and-a-half for overtime hours worked. Monday 9 1/4 Tuesday 9 1/4 Wednesday 10 1/2 Thursday 8 1/2 Friday 11 1/2 Total Hours: Rate per Hour: $8 Gross pay:
To determine how much to deduct from the gross pay of Jason Parker, an employee of Jensen Ltd., one would look at the earnings record. O Form TD1. O payroll register. O Form T4.
Tr.407.