6. Using the data in No. 5, what is the estimated liability for bonus?She is also paid an additional P1,092.80 in benefits for the 2 weekWhat is the amount to be charged to Work in Process for employeeNo. 106 for the 2-week period, assuming that any overtime work isChigie'SLa186a. P-0-b. Р 1,344c. P 6,720d. P20,1607. Using the data in No. 5, what is the estimated liability for vacaticepay?10a. Р -0-b. P20,160с. Р 1,344Sedd. P6728. The pay stub of Jing Guerrero, employee No. 106 who works on theproduction line, showed the following for a 2-week pay period:P4,560.00611.68Gross earningsIncome tax withheldSSS premiums withheldPhil. Health premiums withheldPag-ibig premiums withheldUnion dues342.00112.16222.0044.0011Jing Guerrero works a regular 40-hours week and is paid P48 perhour regular time, and time and a half for overtime.She is also paid an additional P1,092.80 in benefits for the 2 weepay period with regard to the employer's contribution to thecompany's SSS and Phil. Health premiums.What is the amount to be charged to Work in Process for emplonot traceable to a particular job order?a. P6,480b. P8,880c. P3,840d. P4,320

Given information, Gross earnings =P4,560 Number of hours worked = 40hours week × 2 week =80 hours…

Answered: No. 106 for the 2-week period, assuming…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 10PA: Lemur Corp. is going to pay three employees a year-end bonus. The amount of the year-end bonus and...

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Similar questions

In EB13, you prepared the journal entries for Janet Evanovich, an employee of Marc Associates. You have now been given the following additional information: June is the first pay period for this employee. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to the employee. FICA Social Security and FICA Medicare match employee deductions. The employer is responsible for 60% of the health insurance premium. The employer matches 50% of employee pension plan contributions. Using the information from EB13 and the additional information provided: A. Record the employer payroll for the month of June, dated June 30, 2017. B. Record the payment in cash of all employer liabilities only on July 1.
Accounting for bonus and vacation pay Cathy Muench a factory worker, earns 1,000 each week. In addition, she will receive a 4,000 bonus at year-end and a four-week paid vacation. Prepare the entry to record the weekly payroll and the costs and liabilities related to the bonus and the vacation pay, assuming that Muench is the only employee.
Barbara Ripa receives 695 for a regular 40-hour week and time and one-half for overtime. For a workweek of 45 hours, compute: a. The regular earnings________ b. The overtime earnings________ c. The total earnings________
Lemur Corp. is going to pay three employees a year-end bonus. The amount of the year-end bonus and the amount of federal income tax withholding are as follows. Lemurs payroll deductions include FICA Social Security at 6.2%, FICA Medicare at 1.45%, FUTA at 0.6%, SUTA at 5.4%, federal income tax as previously shown, state income tax at 5% of gross pay, and 401(k) employee contributions at 2% of gross pay. Record the entry for the employee payroll on December 31.
In EA14, you prepared the journal entries for the employee of Toren Inc. You have now been given the following additional information: May is the first pay period for this employee. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to the employee. FICA Social Security and FICA Medicare match employee deductions. The employer is responsible for 70% of the health insurance premium. Using the information from EA14 and the additional information provided: A. Record the employer payroll for the month of May, dated May 31, 2017. B. Record the payment in cash of all employer liabilities only on June 1.
An employee has year-to-date earnings of $115,400. The employee’s gross pay for the next pay period is $5,000. If the FICA—OASDT is 6.2% and the wage base is $118,500, how much FICA—OASDI tax will be withheld from the employee’s pay? (Answer is rounded to whole dollar.) a. $192 b. $210 c. $310 d. $73
An employee earns $1,500 a week and the deductions from that amount for her contributions to EI, CPP, and income taxes are $185. The company must contribute an additional $105 for EI and CPP. How much would the company record as salary expense for that week? a) $1,605 b) $1,420 c) $1,790 d) $1,500

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