PLS ANSWER AND SHOW SOLUTION PO Ronald Factory provides for an incentive scheme for its factory workers whichfeatures a combined minimum guaranteed wage of P875 per week and piece rate ofP11.25. Production report for the week show.EmployeeUnits producedR6778L80A8272D7514. The portion of the weekly payroll that should be charged to factory overhead isa. P5,325.00b.PS,275.00с. Р5,217.50d. P 217.50 Litton Mfg. Co. pays their employees on a combined minimum rate and pieceworkrate plan. The minimum guaranteed daily wage is P420. Any employee whoproduces more than 10 shirts receives a bonus.15 If Mr. Unson produced 14 shirts, what amount should be charged to factoryoverhead control?.а..b. Р 88C. P 268d.. P 168

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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 Units produced R 67 78 80 A 82 72 75 14. The portion of the weekly payroll that should be charged to factory overhead is a. P5,325.00 PS 275 00 ZA

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 Units produced R 67 78 80 A 82 72 75 14. The portion of the weekly payroll that should be charged to factory overhead is a. P5,325.00 PS 275 00 ZA

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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Huron Manufacturing Co. uses a job order cost system to cost its products. It recently signed a new contract with the union that calls for time-and-a-half for all work over 40 hours a week and double-time for Saturday and Sunday. Also, a bonus of 1% of the employees earnings for the year is to be paid to the employees at the end of the fiscal year. The controller, the plant manager, and the sales manager disagree as to how the overtime pay and the bonus should be allocated. An examination of the first months payroll under the new union contract provisions shows the following: Analysis of the supporting payroll documents revealed the following: a. More production was scheduled each day than could be handled in a regular workday, resulting in the need for overtime. b. The Saturday and Sunday hours resulted from rush orders with special contract arrangements with the customers. The controller believes that the overtime premiums and the bonus should be charged to factory overhead and spread over all production of the accounting period, regardless of when the jobs were completed. The plant manager favors charging the overtime premiums directly to the jobs worked on during overtime hours and the bonus to administrative expense. The sales manager states that the overtime premiums and bonus are not factory costs chargeable to regular production but are costs created from administrative policies and, therefore, should be charged only to administrative expense. Required: 1. Evaluate each positionthe controllers, the plant managers, and the sales managers. If you disagree with all of the positions taken, present your view of the appropriate allocation. 2. Prepare the journal entries to illustrate the position you support, including the accrual for the bonus.
Payroll for piece-rate wage system Collier Manufacturing Co. operates on a modified wage plan. During one weeks operation, the following direct labor costs were incurred: The employees are machine operators. Piece rates vary with the kind of product being produced. A minimum of 70 per day is guaranteed to each employee by union contract. Required: 1. Compute the weekly earnings for Travis, Nessman, and Smithers. 2. Prepare journal entries to: a. record the weeks payroll, assuming that none of the employees has achieved the maximum base wage for FICA taxes. The income tax withheld for each employee amounts to 10% of gross wages. b. record payment of the payroll. c. record the employers share of payroll taxes, assuming that none of the employees has achieved the maximum base wage for FICA or unemployment taxes.
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.)
The total wages and salaries earned by all employees of Langen Electronics, Ltd. during March, as shown in the labor cost summary and the schedule of fixed administrative and sales salaries, are classified as follows: a. Prepare a journal entry to distribute the wages earned during March. b. What is the total amount of payroll taxes that will be imposed on the employer for the payroll, assuming that two administrative employees with combined earnings this period of 3,000 have exceeded 8,000 in earnings prior to the period?
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?
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…
Hakone Company determined P 284,200 payroll for the week consisting of P 240,000 earned by 80 direct laborers and P 44,200 earned by 20 indirect laborers. The total factory bonuses to be paid at year-end is estimated at P 980,000. All factory workers receive a three-week paid vacation and 10 paid holidays. Required: Prepare the journal entries to: (a) distribute the weekly payroll and to (b) accrue the bonus, vacation and holiday pay.
. 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?
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…
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.
Hakone Company determined ₱284,200 payroll for the week consisting ₱240,000 earned by 80 direct laborers and ₱44,200 earned by 20 indirect laborers. The total factory bonuses to be paid at year-end is estimated at ₱980,000. All factory workers receive a three-week paid vacation and 10 paid holidays. Required: Prepare the journal entries to (a) distribute the weekly payroll and to (b) accrue the bonus, vacation, and holiday pay.