The production standard for a Completion Department employee is 20 units per hour in 8 hours a day. The hourly wage rate is Rp. 750 For each excess working hour, an incentive of 80% of the wage rate is given. The following is an employee's work the first week of June: Day Unit Hours Monday 160 8 Tuesday 170 8 Wednesday 175 8 Thursday 180 8 Friday 175 8 Based on this data, A. Make a list of salaries and wages for the employee, and B. Keep a general journal to record Salaries and Wages.
The production standard for a Completion Department employee is 20 units per hour in 8 hours a day. The hourly wage rate is Rp. 750 For each excess working hour, an incentive of 80% of the wage rate is given. The following is an employee's work the first week of June: Day Unit Hours Monday 160 8 Tuesday 170 8 Wednesday 175 8 Thursday 180 8 Friday 175 8 Based on this data, A. Make a list of salaries and wages for the employee, and B. Keep a general journal to record Salaries and Wages.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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