Problem 4A rush order was accepted by the Ty-Nee Trailer Company for five trailers. The timetickets and clock cards for the week ended March 27 show the following:Time Tickets- Hour distributionExemptionStatus Hours Earmings #1Trailer Trailer Trailer# 3Previous TrailerTrailer# 4# 5EmployeesCastro# 2all time spent supervising1042P5,60045 7,5006,5006.200ME31010ArdinaBrionesDavid10ME482424482415FajardoTomasME455,9005,8005,2001515ME142248.VillasME402010All employees are paid P40 per hour, except Ardina, who receives P50 per hour. Allovertime premium pay except Ardina's is chargeable to the job and all employees,including Ardina, received time and a half for overtime hours. The previous earningswere not subjected to deductions, such payroll deductions are made on the last payfor the monthRequired1. Calculate the total payroll and total net earnings for the week. Hours not workedon trailers are charged to factory overhead.2. Prepare entries to record, pay, and distribute the payroll.24

Required 1. Calculate the total payroll and total net earnings for the week. Hours not worked on trailers are charged to factory overhead. 2. Prepare entries to record, pay, and distribute the payroll.

Required 1. Calculate the total payroll and total net earnings for the week. Hours not worked on trailers are charged to factory overhead. 2. Prepare entries to record, pay, and distribute the payroll.

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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Concept explainers

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit. Overhead expenses depend upon the nature of the business operations.

Question

Problem 4
A rush order was accepted by the Ty-Nee Trailer Company for five trailers. The time
tickets and clock cards for the week ended March 27 show the following:
Time Tickets- Hour distribution
Exemption
Status Hours Earmings #1
Trailer Trailer Trailer
# 3
Previous Trailer
Trailer
# 4
# 5
Employees
Castro
# 2
all time spent supervising
10
42
P5,600
45 7,500
6,500
6.200
ME3
10
10
Ardina
Briones
David
10
ME
48
24
24
48
24
15
Fajardo
Tomas
ME
45
5,900
5,800
5,200
15
15
ME1
42
24
8.
Villas
ME
40
20
10
All employees are paid P40 per hour, except Ardina, who receives P50 per hour. All
overtime premium pay except Ardina's is chargeable to the job and all employees,
including Ardina, received time and a half for overtime hours. The previous earnings
were not subjected to deductions, such payroll deductions are made on the last pay
for the month
Required
1. Calculate the total payroll and total net earnings for the week. Hours not worked
on trailers are charged to factory overhead.
2. Prepare entries to record, pay, and distribute the payroll.
24

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