Particulars Amount Salary for the month dd: Allowences sice Alowence Clothing Allowence 33,000 300 500 lowence 200 Lsund dd: Seles Commission dd: Overtime (Working Note :2 100,000x 3 45,000 Total etime hourax Rete per hour 39 Hoursx187 TOTAL 35,5525 Working Note- Total Overtime Hours REGOT Working hours 10 Houra

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
icon
Related questions
Question

get the gross taxable income on this photo

Gross Pay will be
Particulars
Amount
Salary for the month
33,000
Add: Allowances
Rice Allowance
300
clothing Allowance
Lsundry Allowence
200
1,000
Add: Sales Commision
(1,500,000 x 36)
45,000
Add: Overtime (Working Note 1a2)
(Total Overtime hoursx Rete per hour)
(35 Hours x 187.5)
6,362.5
TOTAL
85,562.5
Working Note:-
Total Overtime Hours
REGOT Working hours 10 Hours
SHOT Working hours S Houra
SHRDOT Working hours e Houra
LHOT Working hours
LHR Working hours
S Houra
7 Hours
ТOTAL
35 Hours
Rate Per hour
Total Working Days in a month - 22 Days
Working Hours per Day - 8 Hours
Total Hours in a month will be - 22 Days x 8 hours
- 176 Hours
The total salary for the month is 33000
Therefore Per hour ale will be
T len
- 187.5
Transcribed Image Text:Gross Pay will be Particulars Amount Salary for the month 33,000 Add: Allowances Rice Allowance 300 clothing Allowance Lsundry Allowence 200 1,000 Add: Sales Commision (1,500,000 x 36) 45,000 Add: Overtime (Working Note 1a2) (Total Overtime hoursx Rete per hour) (35 Hours x 187.5) 6,362.5 TOTAL 85,562.5 Working Note:- Total Overtime Hours REGOT Working hours 10 Hours SHOT Working hours S Houra SHRDOT Working hours e Houra LHOT Working hours LHR Working hours S Houra 7 Hours ТOTAL 35 Hours Rate Per hour Total Working Days in a month - 22 Days Working Hours per Day - 8 Hours Total Hours in a month will be - 22 Days x 8 hours - 176 Hours The total salary for the month is 33000 Therefore Per hour ale will be T len - 187.5
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
Essentials Of Investments
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
FUNDAMENTALS OF CORPORATE FINANCE
FUNDAMENTALS OF CORPORATE FINANCE
Finance
ISBN:
9781260013962
Author:
BREALEY
Publisher:
RENT MCG
Financial Management: Theory & Practice
Financial Management: Theory & Practice
Finance
ISBN:
9781337909730
Author:
Brigham
Publisher:
Cengage
Foundations Of Finance
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education