CUSTOM PKG FOR AC114
27th Edition
ISBN: 9781337781923
Author: WARREN
Publisher: CENGAGE L
expand_more
expand_more
format_list_bulleted
Videos
Textbook Question
Chapter 12, Problem 12.27EX
Revenue per employee
Superior Cleaning Services, LLC, provides cleaning services for office buildings. The firm has 10 members in the LLC, which did not change between 20Y8 and 20Y9- During 20Y9, the business terminated two commercial contracts. The following revenue and employee information is provided:
| 20Y9 | 20 Y 8 | |
| Revenues (in thousands) | $16,200 | $18,400 |
| Number of employees (excluding members) | 150 | 200 |
- a. For 20Y9 and 20Y8, determine the revenue per employee (excluding members).
- b. Interpret the trend between the two years.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
If the company records revenue over time, how much must be shown as currentasset in the balance sheet of MOC Construction Company as of December 31?A. 5,500,000 C. 250,000B. 500,000 D. 100,000
Revenue Per Employee
Schwartz and Beer, CPAs earned $11,737,500 during 20Y4 using 75 employees. During 20Y5, the firm grew revenues to $13,567,500 and expanded the staff to 81 employees.
a. Determine the revenue per employee for each year.
Line Item Description
Amount
Line Item Description
Revenue Per Employee
20Y4
fill in the blank 1 of 2$
20Y5
fill in the blank 2 of 2$
b. The growth in revenue was fill in the blank 1 of 2
the growth in the number of employees; thus, the revenue per employee fill in the blank 2 of 2
between the two years.
2. Richard Corp has the following data for the third week of December:
Employee Name Classification
Hours Worked
Rate per hour
A. Kubel
Laborer
45
50
B. Aileen
Office Secretary
46
45
C. Jose
Laborer
50
52
D. Jay
Factory Supervisor
55
48
E. Richmond
Sales agent
52
60
F. Edward
Laborer
48
45
The following are to be deducted to the gross earnings of employees:
Witholding taxes
5%
ssS contributions
3%
Pbilhsalth
Pag-ibig
1%
1%
Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40
-----.
hours.
Required: Prepare Journal Entries to record
A. Payroll
B. Labor distribution
Chapter 12 Solutions
CUSTOM PKG FOR AC114
Ch. 12 - Prob. 1DQCh. 12 - Prob. 2DQCh. 12 - Prob. 3DQCh. 12 - Prob. 4DQCh. 12 - Prob. 5DQCh. 12 - Prob. 6DQCh. 12 - Prob. 7DQCh. 12 - Prob. 8DQCh. 12 - Prob. 9DQCh. 12 - Prob. 10DQ
Ch. 12 - Prob. 12.1APECh. 12 - Prob. 12.1BPECh. 12 - Prob. 12.2APECh. 12 - Prob. 12.2BPECh. 12 - Prob. 12.3APECh. 12 - Prob. 12.3BPECh. 12 - Prob. 12.4APECh. 12 - Prob. 12.4BPECh. 12 - Liquidating partnerships Prior to liquidating...Ch. 12 - Prob. 12.5BPECh. 12 - Prob. 12.6APECh. 12 - Prob. 12.6BPECh. 12 - Revenue per employee Niles and Cohen, CPAs earned ...Ch. 12 - Prob. 12.7BPECh. 12 - Prob. 12.1EXCh. 12 - Prob. 12.2EXCh. 12 - Prob. 12.3EXCh. 12 - Prob. 12.4EXCh. 12 - Prob. 12.5EXCh. 12 - Prob. 12.6EXCh. 12 - Prob. 12.7EXCh. 12 - LLC net income and statement of members equity...Ch. 12 - Prob. 12.9EXCh. 12 - Prob. 12.10EXCh. 12 - Prob. 12.11EXCh. 12 - Prob. 12.12EXCh. 12 - Prob. 12.13EXCh. 12 - Prob. 12.14EXCh. 12 - Prob. 12.15EXCh. 12 - Prob. 12.16EXCh. 12 - Statement of members' equity, admitting new member...Ch. 12 - Distribution of cash upon liquidation Hewitt and...Ch. 12 - Distribution of cash upon liquidation David Oliver...Ch. 12 - Prob. 12.20EXCh. 12 - Prob. 12.21EXCh. 12 - Liquidating partnershipscapital deficiency...Ch. 12 - Prob. 12.23EXCh. 12 - Prob. 12.24EXCh. 12 - Prob. 12.25EXCh. 12 - Revenue per professional staff The accounting firm...Ch. 12 - Revenue per employee Superior Cleaning Services,...Ch. 12 - Prob. 12.1APRCh. 12 - Prob. 12.2APRCh. 12 - Prob. 12.3APRCh. 12 - Prob. 12.4APRCh. 12 - Prob. 12.5APRCh. 12 - Prob. 12.6APRCh. 12 - Prob. 12.1BPRCh. 12 - Prob. 12.2BPRCh. 12 - Prob. 12.3BPRCh. 12 - Prob. 12.4BPRCh. 12 - Prob. 12.5BPRCh. 12 - Statement of partnership liquidation On August 3,...Ch. 12 - Prob. 12.1CPCh. 12 - Prob. 12.3CPCh. 12 - Prob. 12.4CP
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Toren Inc. employs one person to run its solar management company. The employees gross income for the month of May is $6,000. Payroll for the month of May is as follows: FICA Social Security tax rate at 6.2%, FICA Medicare tax rate at 1.45%, federal income tax of $400, state income tax of $75, health-care insurance premium of $200, and union dues of $50. The employee is responsible for covering 30% of his or her health insurance premium. A. Record the journal entry to recognize employee payroll for the month of May, dated May 31, 2017. B. Record remittance of the employees salary with cash on June 1.arrow_forwardA company uses charging rates to allocate service department costs to the using departments. The accountant compiled the following information on one of the service departments: If Department K plans to use 1,350 hours of the service departments service in the coming year, how much of the service departments cost is allocated to Department K? a. 3,375 b. 27,300 c. 26,325 d. 23,950arrow_forwardRichard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour Kuhol Laborer 45 50 Aileen Office Secretary 46 45 Jose Laborer 50 52 Jay Factory Supervisor 55 48 Richmond Sales agent 52 60 Edward Laborer 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes 5% SSS contributions 3% Philhealth 1% Pag-ibig…arrow_forward
- 4. Richard Corp has the following data for the third week of December: Employee Name Worked Classification Hours Rate per hour G. Kuhol Laborer 45 50 H. Aileen Office Secretary 46 45 I. Jose Laborer 50 52 J. Jay K. Richmond Factory Supervisor Sales agent 55 48 52 60 L. Edward Laborer 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes SSS contributions 5% 3% Philhealth 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. The amount charged to Work in Process account is how much?arrow_forwardNiles and Cohen, CPAs earned $12,375,000 during 20Y4 using 75 employees. During 20Y5, the firm grew revenues to $15,400,000 and expanded the staff to 88 employees.a. Determine the revenue per employee for each year.b. Interpret the results.arrow_forward3. Richard Corp has the following data for the third week of December: Employee Name Worked Classification Hours Rate per hour A. Kuhol Laborer 45 50 B. Aileen Office Secretary 46 45 C. Jose Laborer 50 52 D. Jay Factory Supervisor 55 48 E. Richmond Sales agent 52 60 F. Edward Laborer 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes SSS contributions 5% 3% Philhealth 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. How much is the gross payroll?arrow_forward
- 15. The following are data available for the month of September 2021 of Saint James Corp. Gross Earnings P8,500,000 Deductions: SSS Contribution 425,000 85,000 85,000 2,125,000 Philhealth Pag-ibig Witholding taxes Determine the following: A. Accrued payroll B. Amount charged to Worked in Process account 16. The following data of JYD Corp. Workers idle time are as follows: Normal Idle Time Abnormal Idle time Wage Rate/hr. Mr. Gom, Factory Supervisor Mr. Bur, Factory laborer Mr. Za, Factory laborer 6 hrs 2 hrs P400 8 hrs 2 hrs 250 8 hrs 2 hrs. 250 Prepare the journal entry to record the idle time of the three workers.arrow_forwardF & B 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... 12. The wekly earnings of the employee will amount to a.. P 960 b.. P 1,032 P 1,104 C.. d. P 1.036arrow_forwardHow to solve this accounting for labor?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Cornerstones of Cost Management (Cornerstones Ser...AccountingISBN:9781305970663Author:Don R. Hansen, Maryanne M. MowenPublisher:Cengage Learning
Principles of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax CollegePrinciples of Accounting Volume 2AccountingISBN:9781947172609Author:OpenStaxPublisher:OpenStax College
College Accounting (Book Only): A Career ApproachAccountingISBN:9781337280570Author:Scott, Cathy J.Publisher:South-Western College Pub
College Accounting (Book Only): A Career ApproachAccountingISBN:9781305084087Author:Cathy J. ScottPublisher:Cengage Learning
Principles of Cost AccountingAccountingISBN:9781305087408Author:Edward J. Vanderbeck, Maria R. MitchellPublisher:Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser...
Accounting
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax College
Principles of Accounting Volume 2
Accounting
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax College
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:South-Western College Pub
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cengage Learning
Principles of Cost Accounting
Accounting
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Cengage Learning
Accounting Changes and Error Analysis: Intermediate Accounting Chapter 22; Author: Finally Learn;https://www.youtube.com/watch?v=c2uQdN53MV4;License: Standard Youtube License