Following are the particulars for March, 2019 relating to four employees working in a department of a factory, exclusively for Job. No 434: Wages $ Name Designation Per A Foreman 800 month B Mechanic 15 day C Machine Operator 12 day D Workman 10 day The normal working hours per week of six days are 48, at 8 hours per day. Sundays are paid holidays. (There was only one holiday other than Sundays, for which the employees are not paid any thing except the foreman). Provident fund contribution was 8% of monthly wages by employee and employer each. Employees State Insurance contribution was 3% of monthly wages by employee and 5% of monthly wages by employer. From the foregoing data, calculate : (a) Net wages payable (to employees) by the employer for the month; (b) The total amount of provident fund contribution to be deposited by employer; (c) Employees state insurance contribution to be deposited by employer; (d) Total labour cost to the employer for the month of March, chargeable to the job; and (e) The total cost of the job requiring material valued at $ 6,000 and overheads at 50% of prime cost.

Following are the particulars for March, 2019 relating to four employees working in a department of a factory, exclusively for Job. No 434: Wages $ Name Designation Per A Foreman 800 month B Mechanic 15 day C Machine Operator 12 day D Workman 10 day The normal working hours per week of six days are 48, at 8 hours per day. Sundays are paid holidays. (There was only one holiday other than Sundays, for which the employees are not paid any thing except the foreman). Provident fund contribution was 8% of monthly wages by employee and employer each. Employees State Insurance contribution was 3% of monthly wages by employee and 5% of monthly wages by employer. From the foregoing data, calculate : (a) Net wages payable (to employees) by the employer for the month; (b) The total amount of provident fund contribution to be deposited by employer; (c) Employees state insurance contribution to be deposited by employer; (d) Total labour cost to the employer for the month of March, chargeable to the job; and (e) The total cost of the job requiring material valued at $ 6,000 and overheads at 50% of prime cost.

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter5: Unemployment Compensation Taxes

Section: Chapter Questions

Problem 14PA

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