e Norman Company recently adopted an incentive plan. Factory workers are paid P7.50 per unit with a guaranteed minimum wage of P2,000 per week. Following is a report on employee’s productivity for the week ending May 19, 2019. All employees worked the full 40-hour week. WEEKLY SUMMARY Employee's Name Units ProducedCruz R. Cruz 240 J. Briones 286 C. David 275 A. Mendoze

e Norman Company recently adopted an incentive plan. Factory workers are paid P7.50 per unit with a guaranteed minimum wage of P2,000 per week. Following is a report on employee’s productivity for the week ending May 19, 2019. All employees worked the full 40-hour week. WEEKLY SUMMARY Employee's Name Units ProducedCruz R. Cruz 240 J. Briones 286 C. David 275 A. Mendoze

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 3E

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PROBLEM: The Norman Company recently adopted an incentive plan. Factory workers are paid P7.50 per unit with a guaranteed minimum wage of P2,000 per week. Following is a report on employee’s productivity for the week ending May 19, 2019. All employees worked the full 40-hour week. WEEKLY SUMMARY Employee's Name Units ProducedCruz R. Cruz 240 J. Briones 286 C. David 275 A. Mendoze 240 F. Rivera 225 R. Tolentino 285 Required: 1.Compute each employee’s gross pay Work in Process Factory Overhead Control Employee’s Name Units Produced Piece Rate Total Pay Guaranteed Wage Difference (FOC) Total Gross Pay R. Cruz…
The Norman Company recently adopted an incentive plan. Factory workers are paid P7.50 per unit with a guaranteed minimum wage of P2,000 per week. Following is a report on employee’s productivity for the week ending May 19, 2019. All employees worked the full 40-hour week. WEEKLY SUMMARY Employee's Name Units ProducedCruz R. Cruz 240 J. Briones 286 C. David 275 A. Mendoze 240 F. Rivera 225 R. Tolentino 285 Required: 1.Compute each employee’s gross pay Work in Process Factory Overhead Control Employee’s Name Units Produced Piece Rate Total Pay Guaranteed Wage Difference (FOC) Total Gross Pay R. Cruz…
A loom operator in a textiles factory earns $16 per hour. By contract, the employee earns $24 (time and a half) for overtime hours. The operator worked 45 hours during the first week of May, and overtime is paid after the usual 40 hours.Required:1. Compute the loom operator’s compensation for the week.2. Calculate the employee’s total overtime premium for the week.3. How much of the employee’s total compensation for the week is direct-labor cost? How much is overhead?
The company had 50 workers in its factory payroll. In the month of February 2022, a worker Qais processed 200 units of a product working for 48 hours. The company give remuneration to its employees at an hourly rate of OMR 5.500 per hour worked. The estimated time to process one product is 6 minutes . Calculate the gross earnings of Mr Ahmed under Halsey and Rowan plan.
1. An industry employees 450 workers during the month of Decemcber 2019.The following arethe details of Expenditure as follows .Cost of material=$ 86000, Rate of wages for each employee =$ 3 per hour of normal duty and $ 6per hour of overtime duty. Man hours per day of normal duty= 8 hours. Number of holidays per month (with out wages)=6 days. Total over head expenses = $23000.The workers were paid overtime for 375 hours. Calculate (i) Total cost/month (ii) Man hour rate on costs …..
. Sharp Enterprises operates its factory on a two-shift basis and pays a later shift differential of 15 percent above the regular wage rate of P65 per hour. The company also pays a premium of 10 percent for overtime work. During the year, work occurred in the following categories: Number of hours worked during the regular shift Number of overtime hours for regular shift workers Number of hours worked during the late shift Requirement: 10,000 300 6,000 1.Compute for the amount to be distributed to Work-in-Process. 2.How much is distributed to Factory Overhead Account? 3.Assuming that Direct Materials amounted to P3,575,000 while Total Manufacturing Overhead is P800,000, how much is Period Cost? 4.Assuming that Direct Materials amounted to P2,500,000 while Total Manufacturing Overhead is P1,025,000, how much is Period Cost?
Determine the gross pay for each employee listed below. When necessary, round intermediate calculations and the final answer to the nearest cent. Clay Jones is paid time-and-a-half for all hours over 40. He worked 45 hours during the week. His regular pay rate is $25 per hour. $ Mary James worked 48 hours during the week. She is entitled to time-and-a-half for all hours in excess of 40 per week. Her regular pay rate is $20 per hour. $ Lori Terry is paid a commission of 10 percent of her sales, which amounted to $23,650. $ Nicole Smith's yearly salary is $95,500. During the week, she worked 46 hours, and she is entitled to time-and-a-half for all hours over 40. $
Kurt Lopez began work this week for the Jaworski Company. Based on a 5-day workweek, his annual salary is $78,000, and he meets the test of an exempt white-collar employee. Since he started working on Tuesday, his first week's pay would be $1,200. $78,000/52 weeks = Gross pay $1,500 $1,500 × 4/5 = $1,200 Connie Duffy started working for Dexter Company on Thursday of this week. She worked 8 hours on Thursday and 9 hours on Friday. Her annual salary is $57,200, and she is an exempt white-collar employee. Determine her gross pay for her first partial week of work.
Use the information provided below to calculate Samantha’s remuneration for 17 March 2022.INFORMATIONSamantha’s normal wage is R300 per hour and her normal working day is 8 hours. The standard production time for each employee is 4 units for every 30 minutes. On 17 March 2022, Samantha’s production was 76 units. Using the Halsey bonus system, a bonus of 50% of the time saved is given to employees.
Employee A is a carpenter and normally works 36 hours per week. The standard rate of pay is $3.60 per hour. A premium of 50% of the basic hourly rate is paid for all overtime hours worked. During the last week of October, Employee A worked for 42 hours. The overtime hours worked were for the following reasons: Machine breakdown: 4 hours To complete a special job at the request of a customer: 2 hours How much of Employee A's earnings for the last week of October would have been treated as direct wages? A $162.00 B $129.60 C $140.40 D $151.20
Irish Corp provides for an incentive scheme for its factory workers which features a combined minimum guarar wage and a piece rate. Each worker is paid P200 per piece with a minimum guaranteed wage of P15,000 per week. Production report the week show: Employee Name Units Produced Irene 70 Aileen 90 Julius 80 Harold 65 What is the amount of the weekly payroll that should be charged to work in process account? O P60,000 O P64,000 P63,000 O P61,000
Use the information provided below to calculate Samantha’s remuneration for 17 March 2022. INFORMATIONSamantha’s normal wage is R300 per hour and her normal working day is 8 hours. The standard production time foreach employee is 4 units for every 30 minutes. On 17 March 2022, Samantha’s production was 76 units. Using theHalsey bonus system, a bonus of 50% of the time saved is given to employees.