Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour Kuhol Laborer 45 50 Aileen Office Secretary 46 45 Jose Laborer 50 52 Jay Factory Supervisor 55 48 Richmond Sales agent 52 60 Edward Laborer 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes 5% 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. Required: Prepare Journal Entries to record Payroll Labor distribution
Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour Kuhol Laborer 45 50 Aileen Office Secretary 46 45 Jose Laborer 50 52 Jay Factory Supervisor 55 48 Richmond Sales agent 52 60 Edward Laborer 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes 5% 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. Required: Prepare Journal Entries to record Payroll Labor distribution
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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- Richard Corp has the following data for the third week of December:
Employee Name Classification Hours Worked Rate per hour
- Kuhol Laborer 45 50
- Aileen Office Secretary 46 45
- Jose Laborer 50 52
- Jay Factory Supervisor 55 48
- Richmond Sales agent 52 60
- Edward Laborer 48 45
The following are to be deducted to the gross earnings of employees:
Witholding taxes 5%
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.
Required: Prepare
- Payroll
- Labor distribution
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