The following information gives details of the gross pay worker. Basic pay for normal hours worked: 40 hours at $10 per hour Overtime: 5 hours at double the rate Basic дла Group bonus payment: $40 Gross wages for the week: $ 540 Although paid for 40 hours in normal time, the worker was, in fact, unab

The following information gives details of the gross pay worker. Basic pay for normal hours worked: 40 hours at $10 per hour Overtime: 5 hours at double the rate Basic дла Group bonus payment: $40 Gross wages for the week: $ 540 Although paid for 40 hours in normal time, the worker was, in fact, unab

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 1E: R. Herbert of Crestview Manufacturing Co. is paid at the rate of 20 an hour for an eight-hour day,...

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A foundry employee worked a normal 40-hour shift, but four hours were idle due to a small fire in the plant. The employee earns $18 per hour.Required:1. Calculate the employee’s total compensation for the week.2. How much of this compensation is a direct-labor cost? How much is overhead?
Compute the average hourly cost of a carpenter to a contractor.Assume the work is in a subsistence area and thedaily subsistence rate is $19.50. The carpenter works thesecond shift on a two-shift project where a project laborcontract establishes a “work 7 pay 8 hour” pay basis forstraight time. He works 6 days, 10 hours a day. In additionto time and a half for overtime Monday through Friday, thecontract calls for double time for all work on weekends.Use 6.2% FICA and 5.0% for unemployment insurance.Assume all data relating to the WC, PL, PD, fringes, andwage are as given in Table 16.5.
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Data relating to labor costs is given below. Manufacturing labor is paid 30 TL per hour and supporting labor is paid 20 TL per hour. For overwork, 50% additional payment is made. Manufacturing Labor 3.000 hours Normal working. 200 hoursIn week overworking Weekend holiday 200 hours Supporting Labor Normal working 600 hours Weekend holiday 100 hours Employer’s Social Security Premium and Unemployment Premium rates are 20% and 2% respectively. Employees’ Social Security Premium and Unemployment Premium rates are 14% and 1% respectively. Income Tax rate is 20% (Stamp Duty is neglected). Company classifies manufacturing labor hours’ cost and employer’s contribution relating to this cost as direct labor cost. Other labor costs are classified as indirect labor cost.Required: a) Gross wage b) Total labor costs c) Direct Labor Costs d) Indirect Labor Costs e) Net wage (Due to Personnel) f) Social Securities and Unemployment Premiums Payable (Employer + Employee)
Data relating to labor costs is given below. Manufacturing labor is paid 30 TL per hour and supporting labor is paid 20 TL per hour. For overwork, 50% additional payment is made. Manufacturing Labor Normal working -3000 hours In week overworking -200 hours Weekend holiday- 500 hours Supporting Labor Normal working-600 hours Weekend holiday-100 hours Employer’s Social Security Premium and Unemployment Premium rates are 20% and 2% respectively. Employees’ Social Security Premium and Unemployment Premium rates are 14% and 1% respectively. Income Tax rate is 20% (Stamp Duty is neglected). Company classifies manufacturing labor hours’ cost and employer’s contribution relating to this cost as direct labor cost. Other labor costs are classified as indirect labor cost. Required: a) Gross wage b) Total labor costs c) Direct Labor Costs d) Indirect Labor Costs e) Net wage (Due to Personnel) f) Social Securities and Unemployment Premiums Payable (Employer + Employee)
R. Herbert of Crestview Manufacturing Co. is paid at the rate of 20 an hour for an eight-hour day, with time-and-a-half for overtime and double-time for Sundays and holidays. Regular employment is on the basis of 40 hours a week, five days a week. At the end of a week, the labor time record shows the following: Because jobs are randomly scheduled for the overtime period, any overtime premium is charged to Factory Overhead. a. Compute Herberts total earnings for the week. b. Present the journal entry to distribute Herberts total earnings. (Note: These single journal entries here and in E3-2, E3-3, E3-4, E3-8 and E3-9 are for the purpose of illustrating the principle involved. Normally, the entries would be made for the total factory payroll plus the administrative and sales payroll.)
You must determine the total wages from the information below.A work typically takes 12 hours to complete, and the hourly rate is fixed at Rs. 2. is part of the Hallsay premium package. Worker A needed 9 hours to complete the task, whereas Worker B needed 7 hours.
A Company pays time and a half for hours in excess of 40 hours per week. An individual is paid P24.00 per hour and worked 44 hours a week. The weekly earning of the employee will amount to? How much should be charged to Work in Process? How much should be charged to Factory overhead?
Mr. Koala, a factory worker is paid $150 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. a. If overtime premium is charged to the jobs worked during the overtime hours, how much is the amount charged to Work in Process account? b. If the overtime premium is not charged to specific jobs, How much is the amount charged to Factory overhead?
A worker takes 9 hours to complete a job on daily wages and 6 hours on a scheme of payment by results. His day rate is $ 0. 75 an hour, the material cost of the product is $ 4 and the overheads recovered at 150% of the total direct wages. Calculate the factory cost of the products Overheads are Under: (a) Piece Work Plan, (b) Rowan Plan, and (c) Halsey Plan.
4. Sam Tully works two separate jobs for Mountain Company. During the week, Job A consisted of 38 hours at $20 per hour; Job B involved 15 hours at $14 per hour.What is Sam’s total earnings for this workweek if Mountain Company uses the average rate basis for calculating overtime?
5 Employee A is paid a basic rate of pay of RM3.50 per hour. Overtime is calculated at time and a quarter. During one week he does the following jobs: • Job 111 -he takes 20 hours Job 112- he takes 30 hours Required: a. Calculate Employee A's earnings. b. Determine the direct labour costs to be charged to each job. Determine the overheads related to each job. C.