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6. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour S. Kuhol Laborer 45 50 T. Aileen Office Secretary 46 45 U. Jose V. Jay W. Richmond X. Edward Laborer 50 52 Factory Supervisor 55 48 Sales agent Laborer 52 60 48 45

6. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour S. Kuhol Laborer 45 50 T. Aileen Office Secretary 46 45 U. Jose V. Jay W. Richmond X. Edward Laborer 50 52 Factory Supervisor 55 48 Sales agent Laborer 52 60 48 45

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What is the answer in number 6?~
Quiz 4- Accounting for Labor 1. JYD Accounting Firm pays its employees at a rate of P50/hr. The tax and other deductions amount to 20% of monthly income in excess of P1,000 if an employee works 40 hours in a 120 hours in a month. How much is the gross payroll? 2. JYD Accounting Firm pays its employees at a rate of P50/hr. The tax and other deductions amount to 20% of monthly income in excess of P1,000 if an employee works 40 hours in a 120 hours in a month. How much is the net pay? 3. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour A. Kuhol Laborer 45 50 B. Aileen Office Secretary 46 45 C. Jose Laborer 50 52 D. Jay E. Richmond Factory Supervisor Sales agent Laborer 55 48 52 60 F. Edward 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes 5% SSS contributions Philhealth 3% 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. How much is the gross payroll? 4. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour G. Kuhol Laborer 45 50 H. Aileen Office Secretary 46 45 I. Jose J. Jay Laborer 50 52 Factory Supervisor 55 Sales agent 48 K. Richmond 52 60 L. Edward Laborer 48 45 The following are to be deducted to the gross earnings of employees: 5% Witholding taxes SSS contributions 3% Philhealth 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours.
Transcribed Image Text:Quiz 4- Accounting for Labor 1. JYD Accounting Firm pays its employees at a rate of P50/hr. The tax and other deductions amount to 20% of monthly income in excess of P1,000 if an employee works 40 hours in a 120 hours in a month. How much is the gross payroll? 2. JYD Accounting Firm pays its employees at a rate of P50/hr. The tax and other deductions amount to 20% of monthly income in excess of P1,000 if an employee works 40 hours in a 120 hours in a month. How much is the net pay? 3. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour A. Kuhol Laborer 45 50 B. Aileen Office Secretary 46 45 C. Jose Laborer 50 52 D. Jay E. Richmond Factory Supervisor Sales agent Laborer 55 48 52 60 F. Edward 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes 5% SSS contributions Philhealth 3% 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. How much is the gross payroll? 4. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour G. Kuhol Laborer 45 50 H. Aileen Office Secretary 46 45 I. Jose J. Jay Laborer 50 52 Factory Supervisor 55 Sales agent 48 K. Richmond 52 60 L. Edward Laborer 48 45 The following are to be deducted to the gross earnings of employees: 5% Witholding taxes SSS contributions 3% Philhealth 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours.
The amount charged to Work in Process account is how much? 5. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour M. Kuhol N. Aileen O. Jose P. Jay Q. Richmond R. Edward Laborer Office Secretary 45 50 46 45 Laborer 50 52 Factory Supervisor 55 Sales agent 48 52 60 Laborer 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes SSS contributions Philhealth 5% 3% 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. How much is the amount charged to Manufacturing Overhead? 6. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour S. Kuhol Laborer Office Secretary 45 50 T. Aileen 46 45 U. Jose V. Jay W. Richmond X. Edward Laborer 50 52 Factory Supervisor 55 48 Sales agent Laborer 52 60 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes SSS contributions Philhealth 5% 3% 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. What is the total amount charged to Selling and Administrative expenses? 7. Mr. Koala, a factory worker is paid P150 per hour for a regular work of 40 hours. During the week, Mr. Koala worked 45 hours and earned time and a half for overtime hours. If overtime premium is charged to the jobs worked during the overtime hours, how much is the amount charged to Work in Process account? 8. Mr. Koala, a factory worker is paid P150 per hour for a regular work of 40 hours. During the week, Mr. Koala worked 45 hours and earned time and a half for overtime hours.
Transcribed Image Text:The amount charged to Work in Process account is how much? 5. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour M. Kuhol N. Aileen O. Jose P. Jay Q. Richmond R. Edward Laborer Office Secretary 45 50 46 45 Laborer 50 52 Factory Supervisor 55 Sales agent 48 52 60 Laborer 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes SSS contributions Philhealth 5% 3% 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. How much is the amount charged to Manufacturing Overhead? 6. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour S. Kuhol Laborer Office Secretary 45 50 T. Aileen 46 45 U. Jose V. Jay W. Richmond X. Edward Laborer 50 52 Factory Supervisor 55 48 Sales agent Laborer 52 60 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes SSS contributions Philhealth 5% 3% 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. What is the total amount charged to Selling and Administrative expenses? 7. Mr. Koala, a factory worker is paid P150 per hour for a regular work of 40 hours. During the week, Mr. Koala worked 45 hours and earned time and a half for overtime hours. If overtime premium is charged to the jobs worked during the overtime hours, how much is the amount charged to Work in Process account? 8. Mr. Koala, a factory worker is paid P150 per hour for a regular work of 40 hours. During the week, Mr. Koala worked 45 hours and earned time and a half for overtime hours.
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