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…

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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.
Max's Enterprise operates using the Rowan Bonus Scheme. From its production work during the week ending April 24th, an employee whose basic hourly rate of pay is $14 was assigned the following job which the employee completed. Time taken Job# Time allowed 10 7 hours 45 minutes 6 hours 15 minutes What is the employee's basic pay if the Rowan Bonus Scheme was used? Select one: O A. $75 O B. $84 O C. $87.50 OD. $62.50
d. P 692, Ronald Factory provides for an incentive scheme for its factory workers which features a combined minimum guaranteed wage of P875 per week and piece rate of P11.25. Production report for the week show. Employee R. Units produced 67 78 80 82 72 75 14. The portion of the weekly payroll that should be charged to factory overhead is а. P5,325.00 b. P5,275.00 с. Р5,217.50 d. P 217.50 LAND
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?
Please I need your help thanks! TOPIC: COSTING AND CONTROL OF MATERIALS AND LABOR
To improve productivity, ST. MICHAEL Corp. instituted a bonus plan where employees are paid 75% of the time saved when production performance exceeds the standard level of production. The company computes the bonus on the basis of four-week periods. The standard production is set at 3 units per hour. Each employee works 37 hours per week, and the wage rate is P24 per hour. Below are data for one 4-week period: Weekly Production (Units) Employee 1st 2nd 3rd 4th Total ALAN 107 100 110 108 425 JOEL 104 110 115 115 444 ROMY 108 112 112 133 465 TONY 123 120 119 124 486 The employee who had the inconsistent performance (sometimes performing below standard) but got a bonus is A. Joel= 54 bonus B. Alan= 36 bonus C. Romy= 126 bonus D. Tony= 252 bonus The following production and average cost data per unit for two levels of monthly production volume have been supplied by a company that produces a single product: Production volume 2,000 units 4,000 units Direct materials P88.40 P88.40 Direct…