Exercise 4 - 8. PAYROLL PROCEDURES. NN Company operates on a 6-day week, with time and...

 

 

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Exercise 4 - 8. PAYROLL PROCEDURES. NN Company operates on a 6-day week, with time and one-quarter for all hours over eight during the regular days. The time cards for the week ending November 30 showed: Fri Sat Rate/hr 8444544 81804 P120 80 70 70 70 80 80 No. Name Mon Tues Wed Thur S 001 Jake 8 8 8 8 002 Tibs 8 8 8 6 7 003 Ramon 8 8 8 8 9 004 Teddy 8 8 8 9 005 Art 8 9 9 8 9 006 Rene 8 9 8 8 9 007 Aga 8 9 8 8 An analysis of the job time tickets and payroll records showed: No. Job No. Mon Tues Wed Thur Fri Sat S 001 Supervisor 8 8 8 8 8 8 002 701 5 7 702 2 1 62 6 - - - 003 701 - - - 8 702 8 8 8 Co - 004 702 - - - 703 8 7 005 703 6 7 704 2 - 006 704 4 st 705 4 007 704 8 705 - 5 44 745267 458 324 24 8456 26 235 27245 4 - - 4 4 2 6 4 4 4 54 5 - - - Previous earnings in June (November 1 - 24) No. 001 19,210.00 002 16,204.00 003 12,814.00 004 12,706.00 005 12,528.00 006 16,102.00 007 14,538.00 Use actual contribution for SSS, PHIC (3%), Pagibig and actual withholding tax 1. How much total cash will be paid to employees for the last week of November? 2) How much is Work in Process-Direct Labor? 3) How much will be charged to Factory Overhead Control in recording all employer contribution? 4) How much will be the total amount of remittance to SSS? 5) How much will be the total amount of remittance to BIR? Exercise 4 - 8. PAYROLL PROCEDURES. NN Company operates on a 6-day week, with time and one-quarter for all hours over eight during the regular days. The time cards for the week ending November 30 showed: Fri Sat Rate/hr 8444544 81804 P120 80 70 70 70 80 80 No. Name Mon Tues Wed Thur S 001 Jake 8 8 8 8 002 Tibs 8 8 8 6 7 003 Ramon 8 8 8 8 9 004 Teddy 8 8 8 9 005 Art 8 9 9 8 9 006 Rene 8 9 8 8 9 007 Aga 8 9 8 8 An analysis of the job time tickets and payroll records showed: No. Job No. Mon Tues Wed Thur Fri Sat S 001 Supervisor 8 8 8 8 8 8 002 701 5 7 702 2 1 62 6 - - - 003 701 - - - 8 702 8 8 8 Co - 004 702 - - - 703 8 7 005 703 6 7 704 2 - 006 704 4 st 705 4 007 704 8 705 - 5 44 745267 458 324 24 8456 26 235 27245 4 - - 4 4 2 6 4 4 4 54 5 - - - Previous earnings in June (November 1 - 24) No. 001 19,210.00 002 16,204.00 003 12,814.00 004 12,706.00 005 12,528.00 006 16,102.00 007 14,538.00 Use actual contribution for SSS, PHIC (3%), Pagibig and actual withholding tax 1. How much total cash will be paid to employees for the last week of November? 2) How much is Work in Process-Direct Labor? 3) How much will be charged to Factory Overhead Control in recording all employer contribution? 4) How much will be the total amount of remittance to SSS? 5) How much will be the total amount of remittance to BIR?

Answer rating: 100% (QA)

1 To calculate the total cash paid to employees for the last week of November we need to sum up the regular and overtime hours worked by each employee and then multiply by their respective rates For J... View the full answer