Problem 3. Sharp Enterprises operates its factory on a two-shift basis and pays a late shift differential above the regular wage rate of P67 per hour. The company also pays a premium for overtime work. During the year, work occurred in the following categories: Number of hours worked during the regular shift 10,000 Number of overtime hours for regular shift workers 300 Number of hours worked during the late shift 6,000 Required: Determine the amount of total payroll and distribute the total payroll to Work in process and factory overhead. (Please refer to PD442 for the late shift premium and overtime rate)

Problem 3. Sharp Enterprises operates its factory on a two-shift basis and pays a late shift differential above the regular wage rate of P67 per hour. The company also pays a premium for overtime work. During the year, work occurred in the following categories: Number of hours worked during the regular shift 10,000 Number of overtime hours for regular shift workers 300 Number of hours worked during the late shift 6,000 Required: Determine the amount of total payroll and distribute the total payroll to Work in process and factory overhead. (Please refer to PD442 for the late shift premium and overtime 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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