Jomari Corporation's factory workers Incentive scheme which features a combined piece rate P11.25 and a minimum wage guaranteed wage of P875 per week. Production report for the week show Employees Units produced 67 78 M 80 A. 82 R 72 75 How much portion of the weekly payroll should be charge to factory overhead?

Jomari Corporation's factory workers Incentive scheme which features a combined piece rate P11.25 and a minimum wage guaranteed wage of P875 per week. Production report for the week show Employees Units produced 67 78 M 80 A. 82 R 72 75 How much portion of the weekly payroll should be charge to factory overhead?

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 4E: Peggy Nolan earns 20 per hour for up to 300 units of production per day. If she produces more than...

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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.)
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?
The Norman Company recently adopted an incentive plan. Factory workers are paid P7.50 per unit with a guaranteed minimum wage of P2,000 per week. Following is a report on employee’s productivity for the week ending May 19, 2019. All employees worked the full 40-hour week. WEEKLY SUMMARY Employee's Name Units ProducedCruz R. Cruz 240 J. Briones 286 C. David 275 A. Mendoze 240 F. Rivera 225 R. Tolentino 285 Required: Compute each employee’s gross pay What amount should be charged to work in process? What amount should be charged to factory overhead control?
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. Sharp Enterprises operates its factory on a two-shift basis and pays a later shift differential of 15 percent above the regular wage rate of P65 per hour. The company also pays a premium of 10 percent for overtime work. During the year, work occurred in the following categories: Number of hours worked during the regular shift Number of overtime hours for regular shift workers Number of hours worked during the late shift Requirement: 10,000 300 6,000 1.Compute for the amount to be distributed to Work-in-Process. 2.How much is distributed to Factory Overhead Account? 3.Assuming that Direct Materials amounted to P3,575,000 while Total Manufacturing Overhead is P800,000, how much is Period Cost? 4.Assuming that Direct Materials amounted to P2,500,000 while Total Manufacturing Overhead is P1,025,000, how much is Period Cost?
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What is the amount to be charged to Manufacturing Overhead Control account? Four factory workers and a supervisor make a team in the Machining Department. The supervisor earns P100 per hour, and the combined hourly charge of the four workers is P320. Each employee is entitled to a 2-week paid vacation and a bonus equal to 4 week's wages each year. Vacation pay and bonuses are treated as indirect costs and are accrued over the 50 week work year. A provision in the union contract does not allow these employees to work in excess of 40 hours per week.
Data relating to labor costs is given below. Manufacturing labor is paid 30 TL per hour and supporting labor is paid 20 TL per hour. For overwork, 50% additional payment is made. Manufacturing Labor Normal working -3000 hours In week overworking -200 hours Weekend holiday- 500 hours Supporting Labor Normal working-600 hours Weekend holiday-100 hours Employer’s Social Security Premium and Unemployment Premium rates are 20% and 2% respectively. Employees’ Social Security Premium and Unemployment Premium rates are 14% and 1% respectively. Income Tax rate is 20% (Stamp Duty is neglected). Company classifies manufacturing labor hours’ cost and employer’s contribution relating to this cost as direct labor cost. Other labor costs are classified as indirect labor cost. Required: a) Gross wage b) Total labor costs c) Direct Labor Costs d) Indirect Labor Costs e) Net wage (Due to Personnel) f) Social Securities and Unemployment Premiums Payable (Employer + Employee)
Senorita Private Limited operates a piecework system of remuneration, but also guarantees its employees 80% of a time-based rate of pay which is based on $20 per hour for an eight-hour working day. Three minutes is the standard time allowedper unit of output. Piecework is paid at the rate of $18 per standard hour. If an employee produces 200 units in eight hours on a particular day, what is the employee’s gross pay for that day?
WHAT US THE ESTIMATED LIABILITY FOR VACATION PAY? Four factory workers and a supervisor make a team in the Machining Department. The supervisor earns P100 per hour, and the combined hourly charge of the four workers is P320. Each employee is entitled to a 2-week paid vacation and a bonus equal to 4 week's wages each year. Vacation pay and bonuses are treated as indirect costs and are accrued over the 50 week work year. A provision in the union contract does not allow these employees to work in excess of 40 hours per week.
PROBLEM: The Norman Company recently adopted an incentive plan. Factory workers are paid P7.50 per unit with a guaranteed minimum wage of P2,000 per week. Following is a report on employee’s productivity for the week ending May 19, 2019. All employees worked the full 40-hour week. WEEKLY SUMMARY Employee's Name Units ProducedCruz R. Cruz 240 J. Briones 286 C. David 275 A. Mendoze 240 F. Rivera 225 R. Tolentino 285 Required: 1.Compute each employee’s gross pay Work in Process Factory Overhead Control Employee’s Name Units Produced Piece Rate Total Pay Guaranteed Wage Difference (FOC) Total Gross Pay R. Cruz…