What is the wages? Question: 6 MarksMoon Valley Manufacturing pays its factory workers weekly wages of $12,000. The lastpayment was made on December 28, 2003, for the week ended December 25, 2003.Calculate the wages accrued as of December 31, 2003. Round your answer to nearestDollar.

Explanation of Accrued Wages:Accrued wages refer to wages that a company owes to its employees for…

Answered: Question: 6 Marks Moon Valley…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter9: Payroll Accounting: Employer Taxes And Reports

Section: Chapter Questions

Problem 4CE

See similar textbooks

Similar questions

Do not give image format
How to solve this accounting for labor?
JOURNAL ENTRY
Company X applies MOH to jobs on the basis of machine hours used. MOH costs are expected to total TL300,700 for the year, and machine usage is estimated at 123,000 hours. For the year, TL322,300 MOH costs are incurred and 130,070 machine hours are used. Calculate the amount of COGS adjustment at year-end.
How do I fill out this table below based on the info provided above?
ACCT 102 - Please Do All Subparts.
Wages Payable Denton Corporation employs 50 workers in its plant. Each employee is paid $10 per hour and works seven hours per day, Monday through Friday. Employees are paid every Friday. The last payday was Friday, September 19. Required Compute the dollar amount of the weekly payroll. Prepare the journal entry on Friday, September 26, for the payment of the weekly payroll. Denton prepares monthly financial statements. Prepare the adjusting journal entry on Tuesday, September 30, the last day of the month. Prepare the journal entry on Friday, October 3, for the payment of the weekly payroll. Will net income for the month of September be understated or overstated if Denton doesnt bother with an adjusting entry on September 30? Explain your answer.
Irina Company pays its employees weekly. The last pay period for 20-1 was on December 28. From December 28 through December 31, the employees earned 1,754, so the following adjusting entry was made: The first pay period in 20-2 was on Januar)-4. The totals line from Irina Companys payroll register for the week ended Januar)-4, 20-2, was as follows: REQUIRED 1. Prepare the journal entry for the payment of the payroll on January 4, 20-2. 2. Prepare T accounts for Wages and Salaries Expense and Wages and Salaries Payable showing the beginning balance, January 4, 20-2, entry, and aiding balance as of January 4, 20-2.
Joumalize the entries for the completion of the two jobs and the sale of Job 10.
The accounting clerk at Tenity Enterprises is paid $10.40 per hour. During a week’s pay period, the employee worked 38 hours and 40 minutes. Based on a hundredth-hour pay method, what is the gross pay for the period? A. $402.54B. $401.81C. $402.13D. $401.75
6. During the month, Job Arch2 used specialized machinery for 350 hours and incurred $700 in utilities on account, $400 in factory depreciation expense, and $200 in property tax on the factory. Work in Process Inventory Factory Depreciation Expense Finished Goods Inventory Utilities Expense Manufacturing Overhead Accounts Payable Accounts Receivable Property Taxes Payable Accumulated Depreciation PLEASE NOTE #1: For similar accounting treatment (DR or CR), you are to record accounts in the same order as shown in the problem. PLEASE NOTE #2: You must enter the account names exactly as written above and all whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). Using the above accounts, prepare journal entries for the following transactions: Record the costs incurred: DR ? ? CR ? ? CR ? ? CR ? ? Record the allocation of overhead at the predetermined rate of $1.50 per machine hour: DR ? ? CR ? ?
Assuming an average work week to be 40 hours, complete the following table to determine the final gross pay (assume overtime is paid at the rate of time and a half): Total Regular Regular Hours Overtime Regular Рay Overtime Hours OT Rate Gross Pay Rate Hours рay 46 $13.40 $20.10 40 $536.00 $120.60 $656.60 Sample worked 13.40x 1.5%= $reg pay x 1.5 13.40 x 40 $656.60 40 6. $536.00 616.40 20.1x6 $120.60 out $20.10 (if no OT pd) 54 $21.00 47.25 $14.25 Other Pay Considerations

SEE MORE QUESTIONS

Recommended textbooks for you

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

College Accounting, Chapters 1-27 (New in Account…

Accounting

ISBN:

9781305666160

Author:

James A. Heintz, Robert W. Parry

Publisher:

Cengage Learning

Financial Accounting: The Impact on Decision Make…

Accounting

ISBN:

9781305654174

Author:

Gary A. Porter, Curtis L. Norton

Publisher:

Cengage Learning

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

College Accounting, Chapters 1-27 (New in Account…

Accounting

ISBN:

9781305666160

Author:

James A. Heintz, Robert W. Parry

Publisher:

Cengage Learning

Financial Accounting: The Impact on Decision Make…

Accounting

ISBN:

9781305654174

Author:

Gary A. Porter, Curtis L. Norton

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

Question: 6 Marks Moon Valley Manufacturing pays its factory workers weekly wages of $12,000. The last payment was made on December 28, 2003, for the week ended December 25, 2003. Calculate the wages accrued as of December 31, 2003. Round your answer to nearest Dollar.