Mr Dlamini is employed by Amambo Limited. Mr Dlamini is directly involved in manufacturing the company's...

Transcribed Image Text:

Mr Dlamini is employed by Amambo Limited. Mr Dlamini is directly involved in manufacturing the company's leading pharmaceutical drug. The normal working week of the company is 45 hours. Mr Dlamini's basic wage rate is R45 per hour. The company pays its employees normal time and a half for any work in excess of 45 hours per week. In the week ended 14 October 2016, Mr Dlamini worked 51 hours; however, he was idle for 3 hours due to material shortages. Additional information: 1. Mr Dlamini makes the following contributions: 2. Pension fund 8% of normal wage Medical Aid 6% of normal wage UIF 1% of gross wage The company makes the following contributions: MMAC62112 (2024 ASSIGNMENT) 3. Pension fund 15% of normal wage Medical aid 9% of normal wage 1% of gross wage UIF Mr Dlamini pays PAYE at 18% of his taxable income. Page 3/4 REQUIRED: Calculate the following: 3.1 The net wage payable to Mr Dlamini for the given week. (9) 3.2 Prepare the three journal entries to record: 3.2.1. Wages paid to Mr Dlamini. (6) 3.2.2. Company contributions. (4) 3.2.3. bank transactions to pay the employee and relevant contributions to the respective organisations. (6) Mr Dlamini is employed by Amambo Limited. Mr Dlamini is directly involved in manufacturing the company's leading pharmaceutical drug. The normal working week of the company is 45 hours. Mr Dlamini's basic wage rate is R45 per hour. The company pays its employees normal time and a half for any work in excess of 45 hours per week. In the week ended 14 October 2016, Mr Dlamini worked 51 hours; however, he was idle for 3 hours due to material shortages. Additional information: 1. Mr Dlamini makes the following contributions: 2. Pension fund 8% of normal wage Medical Aid 6% of normal wage UIF 1% of gross wage The company makes the following contributions: MMAC62112 (2024 ASSIGNMENT) 3. Pension fund 15% of normal wage Medical aid 9% of normal wage 1% of gross wage UIF Mr Dlamini pays PAYE at 18% of his taxable income. Page 3/4 REQUIRED: Calculate the following: 3.1 The net wage payable to Mr Dlamini for the given week. (9) 3.2 Prepare the three journal entries to record: 3.2.1. Wages paid to Mr Dlamini. (6) 3.2.2. Company contributions. (4) 3.2.3. bank transactions to pay the employee and relevant contributions to the respective organisations. (6)