Lucas Company employs 10 factory workers with wage rate of Php50 per hour under the 40-hour week basis. Overtime pay is 125% of basic pay. 5 workers rendered 45 hours each during the week ending July 15, while the other 5 were assigned to night shift and rendered 40 hours each. The company policy is to add 10% of basic to night shift premium. Compute the amount to be debited to work-in-process and factory overhead to summarize the weekly payroll.

Lucas Company employs 10 factory workers with wage rate of Php50 per hour under the 40-hour week basis. Overtime pay is 125% of basic pay. 5 workers rendered 45 hours each during the week ending July 15, while the other 5 were assigned to night shift and rendered 40 hours each. The company policy is to add 10% of basic to night shift premium. Compute the amount to be debited to work-in-process and factory overhead to summarize the weekly payroll.

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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