Jomari Corporation's factory workers Incentive scheme which features a combined piece rateP11.25 and a minimum wage guaranteed wage of P875 per week. Production report for theweek showEmployeesUnits produced677880827275How much portion of the weekly payroll should be charge to factory overhead?O MAR-

To Calculate the weekly payroll that should be charged to factory overhead, first, we have to…

Answered: Jomari Corporation's factory workers…

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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Direction: Show the journal entries in the transactions given below. If the problem is silent about the overtime premium use the minimum 25%. Half human, half zombie for president manufacturing corp. A newly established business had the following transaction for the 1st month of its operation: A. Purchase of raw materials on account amounting to P650,000 B. Details for computation of payroll for the month are as follows: DIRECT LABOR INDIRECTLABOR SELLING AND ADMINPERSONNEL NUMBER OF EMPLOYEES 30 6 12 RATE PER DAY P600 P800 P500 TOTAL NUMBER OF REGULAR HOURSWORKED 5,280 1,056 2,112 TOTAL NUMBER OF OVERTIME 125 10 0 TAX WITHHELD P0.00 P0.00 P0.00 MANDATORY CONTRIBUTIONS - EMPLOYEE P23,600 P5,320 P9,600 MANDATORY CONTRIBUTIONS -EMPLOYER P43,820 P9,880 P17,820 C. 60% of overtime work is because of rush jobs d. Factory overhead is applied at 80% of direct labor e. Only 90% of raw materials available for use was issued to production (25% indirect materials) f.…
Compensation income Gross compensation income per month Total SSS premium contribution Total Philhealth premium contribution Total Pag-IBIG premium contributions P 50,000 2,400 3,000 1,200 Union dues 2,000 Other benefits received by employees: Annual rice subsidy Annual clothing allowance Temporary housing for 3 months Christmas gift Christmas bonus 18,000 14,000 15,000 5,000 20,000 Other Income Rent Income per month from leasing a residential space Operating Expenses per month (with receipts) 50,000 25,000 REQUIRED: a. Compute the taxable compensation income during the year assuming that Mr. ABC is a rank-and-file employee. b. Compute the table compensation income subject to regular tax during the yea assuming that Mr. ABC is a managerial employee. c. Compute the total taxable income subject to regular tax during the year assuming that Mr. ABC is a rank-and-file employee.
What is the answer in number 7?~
After selection of an Employee, the Human Resource Department decide the following salary breakup. Employee Base pay = Rs.17 (Per Regular hrs.) + Rs.50 (Per Week Bonus) Employee working hrs. Per Week = 60hrs (40 regular hrs. 20 overtime hrs.) Case # 01 So: 1.Calculate the actual regular pay rate per hour. 2.Calculate the overtime rate per hour. 3.Calculate the Total pay for a month.
1) How much total cash will be paid to employees for the last week of November? 2) How much is Work in Process-Direct Labor? 3) How much will be charged to Factory Overhead Control in recording all employer contribution?
A manufacturing company has to produce and sell 229 items every month to break even. The company's fixed costs are $2,281.50 per month and variable costs are $12.00 per item. a. What is the total revenue at the break-even point? Round to the nearest cent b. What is the selling price per item? Round to the nearest cent
calculating commissions The M7H pays its employees an hourly wage plus commision of 7% of their sales. find gross earnings for each hours worked hourly wage total sales gross earnings adam 37 $5.80 2385 jan 40 $ 5.90 2940.65 pat 29 $5.70 1834.39
DETAILS ASK YOUR TEACHER The SUTA rate for Worldwide Industries is 5.4% and its FUTA rate is 6.0% less the 5.4% SUTA credit. If its weekly payroll is $54,174 and none was for payments to employees in excess of the $7,000 wage base, then what are the total FUTA and SUTA taxes for the payroll? O $2,830.44 O $3,250.44 O $5,377.84 O $6,175.84
paresh
Q2: According to the December payroll register ABC Co's working hours for each cost center are as follows: Overtime Working Hour 1100 h. Department Nomal Working TIT Number of Working Days 22 days 22 days 22 days 22 days Workers 25 15 Hour Knitting Coloring Generator Infirmary 4.400 h. 2.640 h. 330 h. 880 h. 10 1.760 h. ABC Co's normal working hours is 8 hours in a day and normal rate is 10 TL. Overtime rate is up to 9 hours normal rate, over 9 hours in a day is 12 TL. Employer's Share of Social Security Premium is TL 3.872 TL, Employee's Social Security Premium is TL 2.400 and income tax is TL 3.900. The Employer's Share of Social Security Premium will be allocated on the base of nomal working hour. Required:Detemine the direct and indirect labor cost and allocate the labor costto each cost center.
1: Carpets 'r Us pays its employees 24 times each year. Its workweek is based on activity level and varies from week to week, but never exceeds a seven-day period. Туре of pay period? A. O Weekly В. BiWeekly C. Semimonthly D. O Monthly Indicate whether the specified workweek is FLSA compliant or noncompliant. A. Compliant B. O Noncompliant 2: Flagpole Enterprises distributes paychecks to employees every other week on Friday afternoon. These pay dates fall exactly seven days after the end of every pay period. The workweek begins Monday at 8:00 a.m. and ends Friday afternoon at 6:00 p.m. Туре of pay period? A. O Weekly В. BiWeekly С. Semimonthly D. O Monthly Indicate whether the specified workweek is FLSA compliant or noncompliant. A. Compliant В. Noncompliant
Pay rate employers are required to pay certain employees covered by state and federal laws; the Fair Labor Standards Act of 1938 sets the rate at 1.5 times the regular hourly rate after 40 hours per week is known as ____________. payroll clerk payroll overtime rate pay period

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