Rosy Williams Company Ltd deals in the manufacture of leather bags for children. The firm pays its workers using the piece work with guaranteed system. The outputs of the employees; Nadine and Erica, in a day of 10 hours were 150 bags and 181 bags respectively. The guaranteed time rate is C45 per hour whilst the piece rate is C2.5 per bag (unit). As an accountant, what would be the daily wages of these employees?

Rosy Williams Company Ltd deals in the manufacture of leather bags for children. The firm pays its workers using the piece work with guaranteed system. The outputs of the employees; Nadine and Erica, in a day of 10 hours were 150 bags and 181 bags respectively. The guaranteed time rate is C45 per hour whilst the piece rate is C2.5 per bag (unit). As an accountant, what would be the daily wages of these employees?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

1.1 Calculate the daily remuneration of W. Rooney using Taylor’s differential piecework system from the information provided.INFORMATIONThe following information relates to W. Rooney, an employee of Manchester Enterprises:1. W. Rooney’s standard workday is 9 hours. His standard production time is 55 units per hour.2. His normal wage rate is R73 per hour. He is remunerated in terms of Taylor’s differential piecework system wherebythe following premium applies:3. 80% of piecework rate if below standard4. 120% of piecework rate if standard or above standard5. W. Rooney’s production is 300 units per day.
Calculate the earnings of G. Henry using the straight piece incentive scheme from the information provided below.
2. Isadore Mitchell. Clothing salesperson. Minimum weekly salary is $250. Rate of commission is 6%. Weekly sales are $2480. What is the commission? What is the gross pây?
1. Alva Nunez is a punch press operator for Drummond Machine Company. She earns $1.10 for every molding she presses. What is her total pay for a week in which she presses 310 moldings? 2. Lei Kurokideliv R e News. vers a week
1.4 Calculate the earnings of G. Henry using the straight piecework incentive scheme from the information provided below. INFORMATION G. Henry is employed by Royal Manufacturers and is paid R250 per hour. His normal working day is 9 hours. The standard time to produce a product is 5 minutes. If G. Henry produces more than his quota, he receives 1½ times the hourly rate on the additional output. G. Henry produced 132 units for the day.
The chief estimator has asked you to determine the average hourly cost for equipnent operators using the information below.. The plan is to work 48 hours per week (8 hours Monday - Saturday). Overtime is paid for over 40 hours at a rate of Tirme and a half. Base Wage - $22.00 per hour Social Security Tax - 7.65% Unermployment Compensation Tax - 2.75% Worker Compensation Insurance $32.00/100 Public liability/Property Damage Insurance $3.10/100 Fringe Benefits $6.25 per hour
Omar wants to implement balance or debt wage method in an Integrated circuit manufacturing company. If a worker's time wage is 400 OMR per week and piece wage is 5 OMR per unit, prospective monthly pay wage is as shown below. How much will be his monthly pay? WEEK TIME WAGE PIECE WAGE CREDIT DEBIT BALANCE 1 400 OMR 150 X 5 OMR 350 350 2 400 OMR 75 X5 OMR 25 325 3 400 OMR 100 X 5 OMR 100 425 4 400 OMR 90 X5 OMR 50 475 O a. 1125 O b. 1600 c. 2075 O d.475 Clear my choice
Calculate other forms of income
Acme Inc. manufactures and sells widgets. Acme Inc. sells widgets for $15 each. Acme Inc. uses 3 gizmos for each widget. Gizmos cost $2 each. In December, Acme sold 300 widgets. Acme also pays rent of $500 per month. please show work. A.) What is Acme Inc.'s contribution margin per unit? B.) What is Acme Inc.'s contirbution margin ratio? C.) Assuming the about information is all revenue and expenses for scme, what is December's net income? D.) Determine the fixed cost give the following information: Lowest level of activity- 200 units at a total cost of $600 Highest level of activity- 800 units at a total cost of $1,800 Fixed cost =
2 Alex and Ben are employees of Zamry Sdn Bhd. The company uses a piece rate system to reward its workers. The straight piece rate is RMO.50 per unit of output. In Week 1, Alex produced 200 units whilst Ben produced 180 units. Required: Calculate the earnings for Alex and Ben.
Calculate the gross pay for each employee in the ABC Toy Company: a) Adam Scott, worked 36 hours @ $11.85 per hour. $_426.60 b) Joan Li is on salary at $35,000 per year. How much is her gross salary if paid monthly? $_2916.67 How much is her gross salary if paid bi-weekly? $_1346.16 c) Karma Fayad assembled 1,975 toys at a rate of $0.35 per toy. $_691.25 d) Karin Smith sold $ 17,654 worth of goods and received a sales commission of 2.5% on her sales. $_/
B. Word Problems for Income and Profit: Solve the following showing your solutions 1. Aletta's annual salary of $58,800 is paid weekly. She is paid at time and a half for any overtime beyond her regular workweek of 35 hours. What is her gross pay for a week in which she works 39 hours?