Irish Corp provides for an incentive scheme for its factory workers which features a combined minimum guararwage and a piece rate.Each worker is paid P200 per piece with a minimum guaranteed wage of P15,000 per week. Production reportthe week show:Employee NameUnits ProducedIrene70Aileen90Julius80Harold65What is the amount of the weekly payroll that should be charged to work in process account?O P60,000O P64,000P63,000O P61,000 Irish Corp provides for an incentive scheme for its factory workers which features a combined minimum guararwage and a piece rate.Each worker is paid P200 per piece with a minimum guaranteed wage of P15,000 per week. Production reportthe week show:Employee NameUnits ProducedIrene70Aileen90Julius80Harold65The total payroll for the week would beO P64,000O P63,000O P60,000O P61,000

Payroll is the term which is defined as the amount which the employees get from the employer during…

Answered: vage and a piece rate. ach worker is…

vage and a piece rate. ach worker is paid P200 per piece with a minimum guaranteed wage of P15,000 per week. Pro ne week show: Employee Name Units Produced Irene 70 Aileen 90 Julius 80 Harold 65

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter3: Accounting For Labor

Section: Chapter Questions

Problem 3E

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Peggy Nolan earns 20 per hour for up to 300 units of production per day. If she produces more than 300 units per day, she will receive an additional piece rate of .5333 per unit. Assume that her hours worked and pieces finished for the week just ended were as follows: a. Determine Nolans earnings for each day and for the week. (Round piece-rate computations to the nearest whole dollar.) b. Prepare the journal entry to distribute the payroll, assuming that any make-up guarantees are charged to Factory Overhead.
R. Herbert of Crestview Manufacturing Co. is paid at the rate of 20 an hour for an eight-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, five days a week. At the end of a week, the labor time record shows the following: Because jobs are randomly scheduled for the overtime period, any overtime premium is charged to Factory Overhead. a. Compute Herberts total earnings for the week. b. Present the journal entry to distribute Herberts total earnings. (Note: These single journal entries here and in E3-2, E3-3, E3-4, E3-8 and E3-9 are for the purpose of illustrating the principle involved. Normally, the entries would be made for the total factory payroll plus the administrative and sales payroll.)
Bruce Eaton is paid 10 cents per unit under the piece-rate system. During one week, Eaton worked 46 hours and produced 5,520 units. Compute the following: 1. The piecework earnings ________ 2. The regular hourly rate ________ 3. The overtime hourly rate ________ 4. The overtime earnings ________ 5. The total earnings ________
Irish Corp provides for an incentive scheme for its factory workers which features a combined minimum guarar wage and a piece rate. Each worker is paid P200 per piece with a minimum guaranteed wage of P15,000 per week. Production report the week show: Employee Name Units Produced Irene 70 Aileen 90 Julius 80 Harold 65 What is the amount of the weekly payroll that should be charged to the factory overhead control account? O P4,000 O P60,000 O P1,000 O P3,000
Ronald Factory provides for an incentives scheme for its factory workers which features a combined minimum guaranteed wage of 875 per week and a piece rate of 11.25. Production report for the week show. Employee Units Produced R 67 O 78 L 80 A 82 N 72 D 75 The portion of the weekly payroll that should be charged to factory overhead is?
A Company pays time and a half for hours in excess of 40 hours per week. An individual is paid P24.00 per hour and worked 44 hours a week. The weekly earning of the employee will amount to? How much should be charged to Work in Process? How much should be charged to Factory overhead?
Litton Mfg. Co. pays their employees on a combined minimum rate and piecework rate plan. The minimum guaranteed daily wage is P420. Any employee who produces more than 10 shirts receives a bonus. If Mr. Unson produced 14 shirts, what amount should be charged to factory overhead control?. a.. b. P 88 P 268 d. P168 с.
A loom operator in a textiles factory earns $16 per hour. By contract, the employee earns $24 (time and a half) for overtime hours. The operator worked 45 hours during the first week of May, and overtime is paid after the usual 40 hours.Required:1. Compute the loom operator’s compensation for the week.2. Calculate the employee’s total overtime premium for the week.3. How much of the employee’s total compensation for the week is direct-labor cost? How much is overhead?
Kline Manufacturing has the following labor costs: Factory-Gross wages Factory Net wages Employer Payroll Taxes Payable O $470,000. The entry to record the cost of factory labor and the associated payroll tax expense will include a debit to Factory Labor for O $450,000. O $550,000. O $500,000. — $500,000 420,000 50,000
You are the payroll manager for Euro Couture, a manufacturer of women's apparel. Your workers are paid per garment sewn on a differential piecework schedule as follows.Round dollars to the nearest cent. Pay Level Garments Produced Rate per Garment 1 1-50 $3.70 2 51-100 $4.25 3 101-150 $4.70 4 0ver 150 $5.30 Calculate last week's total gross pay for the following employee. Employee Garments Produced Total Gross Pay Goodrich, P. 144 $
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
Accounting for Labor If emplovees work on a five day work week and are paid every Friday ot week, Using the calendar year method of accounting, determine the of the Pag-ibig Contribution Withholding taxes 30,000 500,000 on Wednesday. a. P16,200 b. Р27,000 The employers' taxes are as follows: Sss Contribution Philhealth Contribution Pag-ibig Contribution c. P10,800 d. P5,400 200,000 30,000 30,000 The total weekly payroll charged to work in process account is: a. P5,100 b. P8,500 c. P16,000 d. P9,600 Total accrued payroll charged to expense account is: a. P8,100 b. P11,000 c. P6,600 d. P18,500 Comead 25% to administrative and 5% to selling expenses. Compute the total amount of payroll to be charged to work in pre It is the total amount earned by the worker a. Net pay b. Gross pay c. Gross earnings less deductions d. Bonus pay 41. account a. P5,000,000 b. P2,500,000 c. P3,500,000 d. P4,340,000 How much is the total factory overhead control account? a. P2,560,000 b. P1,500,000 c.…