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- Prepare journal entries to record the production activities. Paid factory payroll of $95,000.Completing the Payroll Register The Employee Payroll Register presents all the computations previously performed as it applies to this payroll period. Complete the following steps (if a field should be blank, leave it blank): Record the amount to be withheld for group insurance. Record the amount to be withheld for health insurance. Each worker is to be paid by check. Assign check numbers provided to the correct employee. Compute the net pay for each employee. Total the input columns. KIPLEY COMPANY, INC.Payroll RegisterFor Period Ending January 8, 20-- EARNINGS DEDUCTIONS NET PAY Name Gross OASDI HI FIT SIT SUTA CIT SIMPLE Grp. Ins. Health Ins. Ck. No. Amount Carson, F. $700.00 $43.40 $10.15 $48.00 $21.49 $0.42 $21.00 $20.00 Wilson, W. 897.04 55.62 13.01 68.00 27.54 0.54 26.91 50.00 Utley, H. 678.75 42.08 9.84 14.00 20.84 0.41 20.36 40.00 Fife, L. 877.10 54.38 12.72 33.00 26.93 0.53 26.31 50.00 Smith, L. 790.00 48.98 11.46 59.00…A company uses charging rates to allocate service department costs to the using departments. The accountant compiled the following information on one of the service departments: If Department K plans to use 1,350 hours of the service departments service in the coming year, how much of the service departments cost is allocated to Department K? a. 3,375 b. 27,300 c. 26,325 d. 23,950
- Prepare the journal entry to record the factory wages of $25,000 incurred in the processing department and $15,000 incurred in the production department assuming payment will be made in the next pay period.Pharoah Engineering Contractors incurred employee payroll costs of $32,400 ($25,200 direct and $7,200 indirect) on an engineering project. The company applies overhead at a rate of 25% of direct labor cost. Record the entries to assign payroll liabilities and to apply overhead. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation (To record service salary and wages) (To record the applied overhead) Debit CreditWildhorse Engineering Contractors incurred employee payroll costs of $43,920 ($34,160 direct and $9,760 indirect) on an engineering project. The company applies overhead at a rate of 25% of direct labor cost. Record the entries to assign payroll liabilities and to apply overhead. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation (To record service salary and wages) (To record the applied overhead) Debit Credit
- INPUT VALIDATIONDescribe the types of input edits used for the following data in a payrollsystem. a. Employee nameb. Employee numberc. Social security number d. Rate per hour or salarye. Marital statusf. Number of dependents g. Cost centerh. Regular hours workedi. Overtime hours workedSchrand Services offers janitorial services on both a contract basis and an hourly basis. On January I, Schrand collected $26, I00 cash in advance on a six-month contract for work to be performed evenly during the next six months. Prepare the entry on January I to reflect the receipt of $26,100 cash for contract work; use the financial statement effects template. Adjust the appropriate accounts on January 31 for the contract work done during January; use the financial statement effects template . At January 31, a total of 30 hours of hourly rate janitor work was performed but unb illed. The billing rate is $ 19 per hour. Prepare the accounting adjustment needed on January 31, using the financial statement effects template. (The firm uses the account Fees Receivable to reflect the revenue earned but not yet billed.) Refer to above information to prepare Journal entry for each part 1, 2 and 3.for a contractor, determine the change in the total overhead cost due to the following transa negative sign if its decrease and positive sign if its increase):
- Every 2 weeks, employees for a manufacturing firm submit their time cards to the supervisor, who reviews and approves them. They are the submitted to the payroll department. At that time, the human resources clerk also submits a personnel action to the payroll clerk. The payroll clerk enters the information from these source documents into the employee records and then adds the employee hours to a payroll register reflecting employee pay rates, deductions, and job classification. One copy of the payroll register, along with the time cards, is filed in the payroll department, and one copy is sent to the AP department.Next the payroll clerk sends the employee paychecks to the cash disbursements department. The checks are signed and distributed to the employees by the paymaster. The AP department prepares a cash disbursements voucher. A copy of the voucher and a copy of the payroll register are sent to the cash disbursements department and are then posted to the general ledger. The cash…Hired a secretary receptionist at a salary of $700 per week payable monthly , journalizeThe following expenses were incurred for a job during the year ending 31st December 2018. Direct Material $6,000 Direct wages $8,000 Chargeable expenses $2,000 Factory overheads $4,000 selling and distribution overheads $4,000 Administration overheads $6,000 The selling price for the above job was $36,000. you are required to prepare a statement showing the profit earned for the year 2018 from the job and an estimated price of a job which is to be executed in the year 2019. material, wages, and chargeable expenses will be required of $10,000, $14,000, and $4,000 respectively for the job. The various overheads are to be recovered on the following basis while calculating the price: a) Factory overheads as a percentage of direct wages. b) Administration and selling and distribution as a percentage of factory cost
