Shown below is a summary of the previous week's payroll data for the production division of...
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Shown below is a summary of the previous week's payroll data for the production division of a company manufacturing two different types of men's shoe Details Direct Workers Ordinary time Overtime Basic hourly rate paid Net wage paid Analysis of Direct Workers Time Production time: 4,700 Hours 760 Hours ¢6 €22,000 Pointed Shoes (5,000 shoes) 2,400 Hours Flat Shoes (2,500 shoes) 2,000 Hours Indirect Workers 950 Hours 87 Hours $4. $2,900 Non-productive time 1,060 Hours The molding department employs 110 direct and 30 indirect operatives. All operatives are paid at hourly time rate. Overtime which is regularly worked to meet budgeted production target is paid at time rate plus 1/3 Required: Construct the molding department's wages control accounts for the previous week indicating the accounts into which the corresponding entries would be posted. (20 marks) Shown below is a summary of the previous week's payroll data for the production division of a company manufacturing two different types of men's shoe Details Direct Workers Ordinary time Overtime Basic hourly rate paid Net wage paid Analysis of Direct Workers Time Production time: 4,700 Hours 760 Hours ¢6 €22,000 Pointed Shoes (5,000 shoes) 2,400 Hours Flat Shoes (2,500 shoes) 2,000 Hours Indirect Workers 950 Hours 87 Hours $4. $2,900 Non-productive time 1,060 Hours The molding department employs 110 direct and 30 indirect operatives. All operatives are paid at hourly time rate. Overtime which is regularly worked to meet budgeted production target is paid at time rate plus 1/3 Required: Construct the molding department's wages control accounts for the previous week indicating the accounts into which the corresponding entries would be posted. (20 marks)
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Date Particulars By Wages Expense Account Total Wages Control Account ... View the full answer
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Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
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