8,34061959:3858230924Labor InformationNOV22Regular Rate $16.00/hrFor a 13-person team, how many extra workers should be hired to meet the labor hours needed withoutovertime?Overtime Rate $23.50/hrTargeted Labor Cost $12,000/wkLabor Hours Needed 750/wkAny hour worked over 40 hrs/wk must be paid overtime ratetvNIJZA @EN (US) VWⒸME

Targeted Labor Cost is $12,000 per weekLabor hours needed are 750 Hrs/WeekPay per hour is

Answered: Labor Information Regular Rate…

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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Overhead is calculated by Amanzi Company based on Direct Labor hours. Amanzi forecasts Overhead to be R700 000, Machine hours to be R200 000, and Direct labour hours to be R35000 at the start of the year. Amanzi has 5000 direct labour hours and 10,000 machine hours each year. What is the rate of predetermined overhead? a. R15.00 per hour per machine b. R14.00 per hour of direct labour c. R20.00 per hour of direct work d. R18.00 per hour per machine g. None of them are valid options.
Applying Factory Overhead Hatch Company estimates that total factory overhead costs will be $36,000 for the year. Direct labor hours are estimated to be 9,000. a. For Hatch Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. $ 4 per direct labor hour b. During May, Hatch Company accumulated 750 hours of direct labor costs on Job 200 and 640 hours on Job 305. Determine the amount of factory overhead applied to Jobs 200 and 305 in May. c. Prepare the journal entry to apply factory overhead to both jobs in May according to the predetermined overhead rate. If an amount box does not require an entry, leave it blank. 8
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A worker in a certain company has a daily rate of Php 547, he needs to finish the tasks for 18 days, what would be the total direct labor cost that the company would pay him? Assuming that the overhead charge would be 1.76.
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Labor Information Regular Rate $16.00/hr Overtime Rate $23.50/hr Targeted Labor Cost $12,000/wk Labor Hours Needed 750/wk Any hour worked over 40 hrs/wk must be paid overtime rate For a 13-person team, how many extra workers should be hired to meet the labor hours needed without overtime?