Irish Corp provides for an incentive scheme for its factory workers which features a combined minimum guararwage and a piece rate.Each worker is paid P200 per piece with a minimum guaranteed wage of P15,000 per week. Production reportthe week show:Employee NameUnits ProducedIrene70Aileen90Julius80Harold65What is the amount of the weekly payroll that should be charged to work in process account?O P60,000O P64,000P63,000O P61,000 Irish Corp provides for an incentive scheme for its factory workers which features a combined minimum guararwage and a piece rate.Each worker is paid P200 per piece with a minimum guaranteed wage of P15,000 per week. Production reportthe week show:Employee NameUnits ProducedIrene70Aileen90Julius80Harold65The total payroll for the week would beO P64,000O P63,000O P60,000O P61,000

Payroll is the term which is defined as the amount which the employees get from the employer during…

Answered: vage and a piece rate. ach worker is…

vage and a piece rate. ach worker is paid P200 per piece with a minimum guaranteed wage of P15,000 per week. Pro ne week show: Employee Name Units Produced Irene 70 Aileen 90 Julius 80 Harold 65

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...

See similar textbooks

Related questions

Q: Sandhill Diesel owns the Fredonia Barber Shop. He employs 5 barbers and pays each a base rate of…

A: The net income is calculated as excess of service revenue over costs incurred.

Q: E3-3 Modified wage plan. Randy Wetzel earns $30 per hour for up to 500 units of production per…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Litton Mfg. Co. pays their employees on a combined minimum rate and piecework rate plan. The minimum…

A: The wages paid to workers may depend on the time spent by them in the production process or the…

Q: RyxUnstoppable Company produces a variety of products. The company operates 24 hours per day with…

A: Accounting is essential to operating a company since it allows businesses to track income and…

Q: The normal wage of Nomfundo is R200 per hour and her normal working week is 40 hours. The standard…

A: Given that, normal wage rate per hour = R200 normal working week = 40 hours standard production per…

Q: Marsha has been offered three jobs. Job A pays on an annual basis with a salary of $41,000. Job B…

A: Annual salary in Job A = 41,000 Weekly Salary in Job B = 800 Semi Monthly Salary in Job C = 1700

Q: It costs Homer's Manufacturing $0.75 to produce baseballs and Homer sells them for $7 a piece. Homer…

A: Working note:

Q: Carmela Factory provides for an incentive scheme for its factory workers which features a combined…

A: Overhead: It refers to the expense of an ongoing business and is incurred centrally by the business…

Q: A workman takes 50 hours to complete a job on daily wages and 40 hou cheme of payment by results.…

Q: Doreen George, a stocker at Dender Factory Outlet, is paid on an hourly basis and earns $10 hours,…

A: In order to determine the total gross pay, the total hour worked is required to be multiplied by the…

Q: Sae Hood Factory, Inc pays its workers on the following basis daily: 20 pieces of less P0.50 each;…

A: Working note : 1 Computation of pay per piece No of pieces Gross pay per piece (on daily basis)…

Q: the straight piecework wage incentive scheme

A: Standard number of jerseys to be produced in a day Total working hours in a day/The standard time…

Q: Jomari Corporation's factory workers Incentive scheme which features a combined piece rate P11.25…

A: To Calculate the weekly payroll that should be charged to factory overhead, first, we have to…

Q: Deborah's employer offers fringe benefits that cost the company P3 for each hour of employee time…

A: The direct labor cost includes the regular wages paid to employees. The manufacturing overhead cost…

Q: Litton Mfg. Co. pays their employees on a combined minimum rate and piecework rate plan. The minimum…

A: There are two types of cost, direct manufacturing cost and overhead cost. Direct cost allocated to…

Q: Ronald Factory provides for an incentive scheme for its factory workers which features a combined…

A: Employee Units produced Piece rate Total wages R 67 11.25 753.75 O 78 11.25 877.5 L 80 11.25…

Q: The production standard for a Completion Department employee is 20 units per hour in 8 hours a day.…

A: Normal time rate = 750 per hour Standard time allowed = 20 units per hour Standard production per…

Q: Ezy Fixit Ltd has been asked to quote a price for a special job that must be completed within one…

A: Relevant cost is those cost that helps in taking managerial decisions. Changes in these kinds of…

Q: Chec Telemarketers receive $10 commission on all new customers that sign up for cell phone service…

A: A commission seems to be compensation paid to salespeople by a company in consideration because of…

Q: Telemarketers receive $10 commission on all new customers they sign up for cell nhone service…

A: Federal minimum wage rate is $7.25 per hour . Minimum wages for each week = 40 hours x $7.25 per…

Q: Data relating to labor costs is given below. Manufacturing labor is paid 30 TL per hour and…

A: Wages: It is the payment received by the labor in exchange for his services. The wage depends on…

Q: Alan’s Affordable Running Products aka AARP has three employees: Brandon, the Manager, who earns a…

A: Salary expenses are as follows Brandon as a manager get the salary from the company $1000 per week.…

Q: One Friday morning, a customer brings a rush order of 2,500 units of Product X at a unit sales price…

A: Solution:- Determination of the amount of direct labor as follows under:- Basic information as…

Q: Litton Mfg. Co. pays their employees on a combined minimum rate and piecework rate plan. The minimum…

A: In terms of accountancy, direct labor cost is considered as the component of direct manufacturing…

Q: Major Ltd is a company that produces household goods in various departments. It needs to assess…

A: The total cost of labour includes all wages paid to employees, along with employee compensation and…

Q: Bayan is paid $10 an hour for straight-time and $15 an hour for overtime. One week she worked 40…

A: Normal working hours of a week is taken as 40 . Any overtime will be regarded as overhead and normal…

Q: Vin Diesel owns the Fredonia Barber Shop. He employs four barbers and pays each a base rate of…

Q: The gross amount earned by Harry is

A: Gross Amount - This is the Amount earned by Hary before deducting any taxes but it includes the…

Q: Rosy Williams Company Ltd deals in the manufacture of leather bags for children. The firm pays its…

A: Wages are paid for the services received according to the contract rate generally on hourly basis,…

Q: A company that builds and sells desks has a weekly overhead including salaries and plant costs of…

A: Break even point is a level sale where there is no profit and no loss situation. If a company sales…

Q: A worker takes 9 hours to complete a job on daily wages and 6 hours on a scheme of payment by…

Q: Jomari Corporation's factory workers Incentive scheme which features a combined piece rate P11.25…

A: The amount of minimum wage minus amount of salary according to piece rate will be debited to factory…

Q: Jomari Corporation's factory workers Incentive scheme which features a combined piece rate P11.25…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: The guaranteed wage for the production of 25 units of chairs P 12,500 per day. Compute the gross pay…

A: Gross pay is the total payment received by the labor of the company. Whereas, net pay is the amount…

Q: One Friday morning, a customer brings a rush order of 2,500 units of Product X at a unit sales price…

A: Solution Given Order unit 2500 units Selling price per unit P30 Normal labor rate…

Q: should be produced by an employee if his gross pay is OMR 1,200.6 and the piece rate basis in his…

A: No. of units produced = Gross pay / piece rate

Q: Aziza is one of the skilled employees in kids toys factory. The below table shows the quantity of…

A: Total no. of toys produced = 20+22+25+20+23+19 = 129

Q: You are the payroll manager for Euro Couture, a manufacturer of women's apparel. Your workers are…

A: Calculation of the gross pay for the following employee is shown as follows: Hence, the gross pay…

Q: ou work as a factory worker in National Co.. You are paid P45 per hour and an extra P13.50 per hour…

A: Factory overhead means the cost which is incurred in factory but not directly linked with…

Q: Amy Andrews is a CPA who works as a managerial accounting consultant for a variety of firms. To…

A: Formula: Premium Amount = Total cost x Premium rate

Q: What is the amount to be charged to Manufacturing Overhead Control account? Four factory workers…

A: SOLUTION- MANUFACTURING OVERHEAD IS ALL INDIRECT COSTS INCURRED DURING THE PRODUCTION PROCESS. THIS…

Q: The Norman Company recently adopted an incentive plan. Factory workers are paid P7.50 per unit with…

A: Factory workers are the staff of a firm which are required to produce goods and get wages in return.…

Q: Senorita Private Limited operates a piecework system of remuneration, but also guarantees its…

A: Lets understand the basics. Time rate basis means amount is needs to pay based on the time given by…

Q: Ezy Fixit Ltd has been asked to quote a price for a special job that must be completed within one…

A: 1 a) Calculation of the total relevant cost to Ezy Fixit Ltd of using skilled and unskilled labour…

Q: The piecework rate in a factory is GHC2 per unit and the minimum pay is GHC42/day. A bonus of GHC5…

A: Baisc amount earned = No. of units made x rate per unit but minimum pay is 42 Monday = 20 units x 2…

Q: A workers wages for a guaranteed 44 hours per week is 0.75 per hour the estimated time to produce 1…

A: “Halsey premium plan is a simple combination of time and speed bases of payment. Under this plan, a…

Q: Litton Mfg. Co. pays their employees on a combined minimuim rate and piecework rate plan. The…

A: The bonus given to employees is to be charged to factory overhead account. The regular wages are…

Q: Rye pays his employees on a combined minimum rate and piecework rate plan. The minimum guaranteed…

A: The regular wages paid to employees are added to the work in process and wages earned for overtime…

Question

Irish Corp provides for an incentive scheme for its factory workers which features a combined minimum guarar
wage and a piece rate.
Each worker is paid P200 per piece with a minimum guaranteed wage of P15,000 per week. Production report
the week show:
Employee Name
Units Produced
Irene
70
Aileen
90
Julius
80
Harold
65
What is the amount of the weekly payroll that should be charged to work in process account?
O P60,000
O P64,000
P63,000
O P61,000

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

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

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.)
Peggy Nolan earns 20 per hour for up to 300 units of production per day. If she produces more than 300 units per day, she will receive an additional piece rate of .5333 per unit. Assume that her hours worked and pieces finished for the week just ended were as follows: a. Determine Nolans earnings for each day and for the week. (Round piece-rate computations to the nearest whole dollar.) b. Prepare the journal entry to distribute the payroll, assuming that any make-up guarantees are charged to Factory Overhead.
Bruce Eaton is paid 10 cents per unit under the piece-rate system. During one week, Eaton worked 46 hours and produced 5,520 units. Compute the following: 1. The piecework earnings ________ 2. The regular hourly rate ________ 3. The overtime hourly rate ________ 4. The overtime earnings ________ 5. The total earnings ________
Irish Corp provides for an incentive scheme for its factory workers which features a combined minimum guarar wage and a piece rate. Each worker is paid P200 per piece with a minimum guaranteed wage of P15,000 per week. Production report the week show: Employee Name Units Produced Irene 70 Aileen 90 Julius 80 Harold 65 What is the amount of the weekly payroll that should be charged to the factory overhead control account? O P4,000 O P60,000 O P1,000 O P3,000
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?
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 PI1.25. Production report for the week show. Employee R Units produced 67 78 L 80 A 82 N 72 D 75 The portion of the weekly payroll that should be charged to factory overhead is a. P5,325.00 b. P5,275.00 c. P5,217.50 d. P 217.50
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.
A 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. The weekly earning of the employee will amount to? How much should be charged to Work in Process? How much should be charged to Factory overhead?
A worker takes 13 hours to complete a work on daily wages and 8 hours on a scheme of þayment by resuits. The worker's day rate is P90 per hour. The cost of material of the product is P300 and the overheads are recovered at 200% of the total wages. The company has an incentive plan of giving bonus for the time saved in a certain job. Bonus is computed as time saved over time allowed to complete the job multiplied by the time taken by the worker multiplied by the rate per hour. Mr. X completed the job within 8 hours including a 30-minute idle time. How much is the wage of Mr. X? 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 80 A 82 R 72 75 How much portion of the weekly payroll should be charge to factory overhead?
A worker takes 13 hours to complete a work on daily wages and 8 hours on a scheme of þayment by results. The worker's day rate is P90 per hour. The cost of material of the product is P300 and the overheads are recovered at 200% of the total wages. The company has an incentive plan of giving bonus for the time saved in a certain job. Bonus is computed as time saved over time allowed to complete the job multiplied by the time taken by the worker multiplied by the rate per hour. Mr. X completed the job within 8 hours including a 30-minute idle time. How much is the wage of Mr. X?
The chief estimator has asked you to determine the average hourly cost for equipnent operators using the information below.. The plan is to work 48 hours per week (8 hours Monday - Saturday). Overtime is paid for over 40 hours at a rate of Tirme and a half. Base Wage - $22.00 per hour Social Security Tax - 7.65% Unermployment Compensation Tax - 2.75% Worker Compensation Insurance $32.00/100 Public liability/Property Damage Insurance $3.10/100 Fringe Benefits $6.25 per hour
Carmela 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 H 67 U 78 R 80 R 82 A 72 Y 75 What amount should be charge to factory overhead? b. Р5,275 а. Р5,325 с. Р5217.50 d. P217.50