Jon Stone is paid $20 an hour for an 8-hour day, with time-and-a-half for overtime and double-time for Sundays and holidays. Regular employment is on the basis of 40 hours a week, 5 days a week. Overtime premium is charged to Factory Overhead. Required: Using the labor-time record below: a. Compute Jerrod's total earnings for the week. b. Present the journal entry to distribute Jerrod's total earnings. Sunday Monday Tuesday Wednesday Thursday Friday Saturday ТОTAL Job F2 31 Job M1 4 1 6 14 Admin 1 2 3 ТОTAL 3 8. 8 8 10 5 51

Jon Stone is paid $20 an hour for an 8-hour day, with time-and-a-half for overtime and double-time for Sundays and holidays. Regular employment is on the basis of 40 hours a week, 5 days a week. Overtime premium is charged to Factory Overhead. Required: Using the labor-time record below: a. Compute Jerrod's total earnings for the week. b. Present the journal entry to distribute Jerrod's total earnings. Sunday Monday Tuesday Wednesday Thursday Friday Saturday ТОTAL Job F2 31 Job M1 4 1 6 14 Admin 1 2 3 ТОTAL 3 8. 8 8 10 5 51

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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Compute Keegan Jordan's earnings using the three methods described above. Assume the rate for Job A is $17.85 per hour and $19.95 per hour for Job B. Of the 44 hours worked during the week, 22 hours were completed for Job A and 22 hours complete for Job B. Higher Rate for Overtime Hours Regular Hours, Job A fill in the blank 5cd3d70a5fc9071_1 Hourly Rate, Job A $fill in the blank 5cd3d70a5fc9071_2 Regular Total Pay, Job A $ fill in the blank 5cd3d70a5fc9071_3 Regular Hours, Job B fill in the blank 5cd3d70a5fc9071_4 Hourly Rate, Job B fill in the blank 5cd3d70a5fc9071_5 Regular Total Pay, Job B fill in the blank 5cd3d70a5fc9071_6 Overtime Hours fill in the blank 5cd3d70a5fc9071_7 Overtime Rate fill in the blank 5cd3d70a5fc9071_8 Overtime Total Pay fill in the blank 5cd3d70a5fc9071_9 Total Gross Earnings $ fill in the blank 5cd3d70a5fc9071_10
Calculate the total cost of the employee's wages during the week described above.
Toren Inc. employs one person to run its solar management company. The employee’s gross income for the month of May is $6,600. Payroll for the month of May is as follows: FICA Social Security tax rate at 6.2%, FICA Medicare tax rate at 1.45%, federal income tax of $420, state income tax of $85, health-care insurance premium of $230, and union dues of $50. The employee is responsible for covering 30% of his or her health insurance premium. A. Record the journal entry to recognize employee payroll for the month of May, dated May 31, 2017. Round your answers to the nearest whole dollar. If an amount box does not require an entry, leave it blank. May 31 fill in the blank f06e6df38fa3f84_2 fill in the blank f06e6df38fa3f84_3 fill in the blank f06e6df38fa3f84_5 fill in the blank f06e6df38fa3f84_6 fill in the blank f06e6df38fa3f84_8 fill in the blank f06e6df38fa3f84_9 fill in the blank f06e6df38fa3f84_11 fill in the blank f06e6df38fa3f84_12 fill in the…
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1. Paid $162,000 for salary up to 9th March (Tuesday). All employees work afive-day week and are paid every four weeks on the following Wednesday,based on the number of days they have worked in the last four weeks.Employees are entitled to full pay on public holidays but not on Saturdayand Sunday. The employees receive a total salary of $40,500 for a five-daywork week. 2. The employees receive a total salary of $40,500 for a five-day work week.All employees worked for the whole month of March. What are the double entries for these two point?
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E3-3 Modified wage plan Randy Wetzel earns $25 per hour for up to 400 units of produc- tion per day. If he produces more than 400 units per day, he will receive an additional piece rate of $.50 per unit. Assume LO1