When you work for a business that pays on an hourly basis, you are usually requiredto keep a time card. The time card shows the time you reported for work and thetime you departed each day.Total Hours = Sum of Daily HoursCompute the hours worked for each day on the time cards. Round each half of theday to the nearest quarter hour. What are the total hours for the week? What is thetotal pay for the week?1.DATEOUTHOURSINTEMPORARYEMPLOYEE TIME CARDNAME: Amanda TacketOUT9/137:0011:00 11:304:458.457.409/148:1011.35 12.304.35DEPT. Accounting9/15 8:1012.00 12:404:106.8011.50 12 509/17 7:05 11:09 1150 3:309/168:204:507.30Note: No overtime rate.6.44EMPLOYEE SIGNATURE RATE per hour $8.50 TOTAL HOURS 36 40309.402.TEMPORARYEMPLOYEE TIME CARDNAME. Eugene MuellerDATEINOUTINOUTHOURS8/87:00 11.15 12:10 4:106:50 11:00 11.50 4:007:10 1146 12.34 3588/11710 11.10 12.00 4.353/12 705 10:55 11 41 3.25EMPLOYEE SIGNATURE RATE per hour $8.50 TOTAL HOURS8/9DEPT: Sales8/10Note: No overtime rate.3. ALGEBRA MichaIN

The total wages can be calculated as product of hours worked and rate per hour.

Answered: Total Hours = Sum of Daily Hours…

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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Colleen Prescott is a salaried employee who works fluctuating work schedules. She is paid a fixed salary of $920 each week, with an agreement with her employer that overtime (over 40 hours) will be paid at an extra half-rate, based on the actual hours worked. This week she worked 42 hours. Compute the following amounts. Round all divisions to two decimal places and use the rounded amounts in subsequent computations. Round your final answers to the nearest cent. a) the overtime earnings? b) the total earnings? c) If this was a BELO plan with a pay rate of $21 per hour and a maximum of 45 hours, how much would Prescott be paid for 42 hours?
Pat Donnelly earns $8.00 per hour. last week she worked 38 hours. What is her gross pay?
4. Sam Tully works two separate jobs for Mountain Company. During the week, Job A consisted of 38 hours at $20 per hour; Job B involved 15 hours at $14 per hour.What is Sam’s total earnings for this workweek if Mountain Company uses the average rate basis for calculating overtime?
Brian Packer worked the following schedule: Monday, 9 hours; Tuesday, 7 hours 34 minutes; Wednesday, 8 hours 23 minutes; Thursday, 8 hours 16 minutes; Friday, 8 hours. The employer pays overtime for all time worked in excess of 40 hours per week. Required: Determine Brian's total time worked according to the (a) quarter-hour method and (b) the hundredth-hour method. Which is the more favorable method for Brian, quarter-hour or hundredth-hour? (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Brian Packer Quarter-Hour Time hours Hundredth-Hour Time More Favorable Method hours
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Jon Stone is paid $20 an hour for an 8-hour day, with time-and-a-half for overtime and double-time for Sundays and holidays. Regular employment is on the basis of 40 hours a week, 5 days a week. Overtime premium is charged to Factory Overhead. Required: Using the labor-time record below: a. Compute Jerrod's total earnings for the week. b. Present the journal entry to distribute Jerrod's total earnings. Sunday Monday Tuesday Wednesday Thursday Friday Saturday ТОTAL Job F2 3 5 4 31 Job M1 1 3 6 14 Admin 1 3 6 TOTAL 8. 8. 8 10 51
am. 105.
Question: Use the following information: Month Revenue Billed in the Month Revenue From the Month that is Outstanding at End of Quarter (i.e., on March 31) January $200,000 February $250,000 March $300,000 $50,000 $100,000 $200,000 On the Uncollected Balances Schedule, what percent of the uncollected accounts are from January?
6

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Total Hours = Sum of Daily Hours Compute the hours worked for each day on the time cards. Round each half of day to the nearest quarter hour. What are the total hours for the week? What is total pay for the week?