Gross earnings is______________________. An amount of money paid to an employee at a specified rate per hour worked A fixed amount of money paid to an employee for each pay period The total amount of money an employee earns in a pay period; also called gross pay A record of the time an employee arrives at work, leaves work, and the total number of hours worked each day

Gross earnings is______________________. An amount of money paid to an employee at a specified rate per hour worked A fixed amount of money paid to an employee for each pay period The total amount of money an employee earns in a pay period; also called gross pay A record of the time an employee arrives at work, leaves work, and the total number of hours worked each day

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 12E: A weekly payroll summary made from labor time records shows the following data for Pima Company:...

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The amount of time over which an employee is paid is known as ___________. payroll pay period payroll register payroll clerk
Which of the following methods of payroll calculation offers minimum wage standards and overtime allowances for employees? O a. Differential pay O b. Variable Commission Scale O c. Hourly Rate of pay O d. Salary Plus Commission
calculating gross earnings THe lw pay its employees on a hourly wage. Fing gross earings for each employee. Hours worked hours wage gross earnings pat 38 5.96 steve 23 5.50 mary 32 6.19
Describe the types of application control used for the following data in a payroll system.a. Employee nameb. Employee numberc. Social Security numberd. Rate per hour or salarye. Marital statusf. Number of dependentsg. Cost centerh. Regular hours workedi. Overtime hours workedj. Total employees this payroll period
Choose the best definition of gross pay A. The number of hours over 40 that are worked in a week. B. A fixed amount of wages paid, usually on a yearly basis, regardless of how many hours are worked. C. The amount of money earned for a specific amount of time before any deductions are made.
All details related to an employee's earnings, deductions, and net pay throughout the year would be found in: Multiple Choice the Wages Expense account in the general ledger. the payroll register. the general journal. О the individual earnings record.
Next Question Find the overtime rate, the amount of earnings at regular pay, the amount at overtime pay hours. wages for the employee. Hours in excess of 40 are overtime Name M T w Th F Total Hrs. Reg. Hrs. O.T. Hrs. Bond. R. 7.7 8.9 5.5 4.3 4.5 9.1 ..... Reg. O.T. Gross Earnings Name Rate Rate Regular Overtime Total Bond, R. $7.46 $ I$ What was the overtime rate for Mr. Bond? (Round to the nearest cent.) What was the amount of earnings at Mr. Bond's regular pay? (Round to the nearest cent.) What was the amount of earnings at Mr. Bond's overtime pay? (Round to the nearest cent.)
Find the number of regular hours and the overtime hours (hours over 40) for the employee. Then calculate the overtime rate (time and a half) for the employee. Name M Th F S Reg. Hrs. O.T. Hrs. Reg. Rate O.T. Rate Damon, T. 8.75 7 8.25 $20.18 ..... What is the number of regular hours worked by Mr. Damon? he hours (Type an integer or decimal rounded to two decimal places as needed.) How many overtime hours did Mr. Damon work? hours (Type an integer or decimal rounded to two decimal places as needed.) What was the overtime rate for Mr. Damon? $ (Round to the nearest cent.)
Calculate gross earnings for an hourly employee who is classified as a tipped employee. The employee earned $3.25 per hour and reported $150 in tips during the 27 hours worked. Will the employer need to supplement the gross pay to reach the federal minimum wage of $7.25 per hour? O A. Yes OB. No
Calculate the total cost of the employee's wages during the week described above.
When you work for a business that pays on an hourly basis, you are usually required to keep a time card. The time card shows the time you reported for work and the time you departed each day. Total Hours = Sum of Daily Hours Compute the hours worked for each day on the time cards. Round each half of the day to the nearest quarter hour. What are the total hours for the week? What is the total pay for the week? 1. DATE OUT HOURS IN TEMPORARY EMPLOYEE TIME CARD NAME: Amanda Tacket OUT 9/13 7:00 11:00 11:30 4:45 8.45 7.40 9/14 8:10 11.35 12.30 4.35 DEPT. Accounting 9/15 8:10 12.00 12:40 4:10 6.80 11.50 12 50 9/17 7:05 11:09 1150 3:30 9/16 8:20 4:50 7.30 Note: No overtime rate. 6.44 EMPLOYEE SIGNATURE RATE per hour $8.50 TOTAL HOURS 36 40 309.40 2. TEMPORARY EMPLOYEE TIME CARD NAME. Eugene Mueller DATE IN OUT IN OUT HOURS 8/87:00 11.15 12:10 4:10 6:50 11:00 11.50 4:00 7:10 1146 12.34 358 8/11710 11.10 12.00 4.35 3/12 705 10:55 11 41 3.25 EMPLOYEE SIGNATURE RATE per hour $8.50 TOTAL HOURS…
An employee has a net payroll amount of $5,064.50. What is the correct journal entry to record this payment on payday?

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	An amount of money paid to an employee at a specified rate per hour worked
	A fixed amount of money paid to an employee for each pay period
	The total amount of money an employee earns in a pay period; also called gross pay
	A record of the time an employee arrives at work, leaves work, and the total number of hours worked each day