Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per Hour Kuhl Laborer 45 50 Aileen Office Secretary 46 45 Jose Laborer 50 52 Jay Factory Supervisor 55 48 Richmond Sales agent 52 60 Edward Laborer 48 45 The following are to be deducted from the gross earnings of employees: Withholding taxes - 5% Social Security System contributions - 3% Philippine Health Insurance - 1% Home Development Mutual Fund - 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. a. How much is the gross payroll? b. How much is the amount charged to Work in Process? c. How much is the amount charged to manufacturing overhead? d. How much is the total amount charged to Selling and Administrative expenses?
Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per Hour Kuhl Laborer 45 50 Aileen Office Secretary 46 45 Jose Laborer 50 52 Jay Factory Supervisor 55 48 Richmond Sales agent 52 60 Edward Laborer 48 45 The following are to be deducted from the gross earnings of employees: Withholding taxes - 5% Social Security System contributions - 3% Philippine Health Insurance - 1% Home Development Mutual Fund - 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. a. How much is the gross payroll? b. How much is the amount charged to Work in Process? c. How much is the amount charged to manufacturing overhead? d. How much is the total amount charged to Selling and Administrative expenses?
College Accounting (Book Only): A Career Approach
12th Edition
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cathy J. Scott
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 2PA
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Richard Corp has the following data for the third week of December:
| Employee Name | Classification | Hours Worked | Rate per Hour |
| Kuhl | Laborer | 45 | 50 |
| Aileen | Office Secretary | 46 | 45 |
| Jose | Laborer | 50 | 52 |
| Jay | Factory Supervisor | 55 | 48 |
| Richmond | Sales agent | 52 | 60 |
| Edward | Laborer | 48 | 45 |
The following are to be deducted from the gross earnings of employees:
Withholding taxes - 5%
Social Security System contributions - 3%
Philippine Health Insurance - 1%
Home Development Mutual Fund - 1%
Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours.
a. How much is the gross payroll?
b. How much is the amount charged to Work in Process?
c. How much is the amount charged to manufacturing
d. How much is the total amount charged to Selling and Administrative expenses?
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