Peter Chibwe works at Company XYZ. The following information relates to his performance at work for...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Peter Chibwe works at Company XYZ. The following information relates to his performance at work for a single week Normal working hours per week 40 hours Hours worked 48 hours Number of units produced 400 units Normal rate per hour K125.00 Overtime rate 12 of normal rate Production bonus for every 50 units produced K45.00 Deductions are as follows: i. Pension fund is 7.5% of the normal wage ii. PAYE is 20% of the taxable income on gross wage iii. Unemployment Insurance Fund is 1% of the normal wage and is tax deductible iv. Medical aid is 5% of the normal wage V. K10.00 per week for union membership REQUIRED: (A) Calculate the monthly net wage for Peter Chibwe showing all the detailed calculations (B) Prepare a payslip for Peter Chibwe for the month of February 2022 (C)Discuss fully the remuneration method(s) used by Company XYZ. Peter Chibwe works at Company XYZ. The following information relates to his performance at work for a single week Normal working hours per week 40 hours Hours worked 48 hours Number of units produced 400 units Normal rate per hour K125.00 Overtime rate 12 of normal rate Production bonus for every 50 units produced K45.00 Deductions are as follows: i. Pension fund is 7.5% of the normal wage ii. PAYE is 20% of the taxable income on gross wage iii. Unemployment Insurance Fund is 1% of the normal wage and is tax deductible iv. Medical aid is 5% of the normal wage V. K10.00 per week for union membership REQUIRED: (A) Calculate the monthly net wage for Peter Chibwe showing all the detailed calculations (B) Prepare a payslip for Peter Chibwe for the month of February 2022 (C)Discuss fully the remuneration method(s) used by Company XYZ.
Expert Answer:
Answer rating: 100% (QA)
a b C Here the company XYZ uses following remuneration met... View the full answer
Related Book For
Advanced Accounting
ISBN: 978-0538480284
11th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
Posted Date:
Students also viewed these accounting questions
-
The following information relates to Perry Somers financial affairs in 20X1: 1. Somer is employed as a salesman and is remunerated by commissions. He must pay all of his own expenses. During 20X1, he...
-
The following information relates to Helena Limited: Required: Calculate the following accounting ratios for each of the five years from 30 April 2008 to 2012 inclusive: (a) Gross profit (b) Mark-up...
-
The following information relates to the Plus Factors Group plc for the years to 30 September 20X8 and 20X9: Ordinary dividends were declared as follows: Interim 1.12 pence per share (20X8, l.67p)...
-
The following information relates to the business of Biddulph, for the year ended 31 March 20*8: Stock at 1 April 20*7 4,560; stock at 31 March 20*8 5,050; purchases for the year 47,800; sales for...
-
A company services home air conditioners. It is known that times for service calls follow a normal distribution with a mean of 60 minutes and a standard deviation of 10 minutes. a. What is the...
-
A gaseous fuel with a volumetric analysis of 45 percent CH4, 35 percent H2, and 20 percent N2 is burned to completion with 130 percent theoretical air. Determine (a) The air-fuel ratio (b) The...
-
Suppose $X \sim N(0,1)$ and $W_{n} \sim \chi_{n}^{2}$ independently for any positive integer $n$. Let $V_{n}=X / \sqrt{W_{n}} / n$. a. We know $V_{n} \sim t_{n}$. Show that $V_{n}^{2}$ follows an...
-
The Purdue Pegboard Task is a standard test for motor skills. It consists of a board with a series of holes and three types of pieces: pegs, washers and standoffs, stored in a depression at the top...
-
Tegan is a commission sales person. In October, Tegan sold $50,000 in product. What is the value of Tegan's commission? The commission rates are: 2% for the first $10,000 4% for the next $15,000 ...
-
Snowden Industries produces two electronic decoders, P and Q. Decoder P is more sophisticated and requires more programming and testing than does Decoder Q. Because of these product differences, the...
-
How do you expect me to edit a question when the expert respondsw "." rather than actually asking me a question? Why am I payingfor this if I'm getting a response like that? If the "expert" wouldjust...
-
After the baseline was set, it was determined that the demolition team 1 was allocated to another project and were not able to work on all the tasks they were assigned to. Another Demolition Team 2...
-
How do I incorporate project management into this topic, general problem, and specific problem? Proposed Topic: The impact that COVID-19 had on remote work and work-life balance, and expectations of...
-
I found it fun to learn that we all have different but also similar ways of how we learn in this survey. It can also be helpful for learners to understand their learning style. For example, it can...
-
Describe how the WBS helps to create a budget for the project, and why it is important to have a budget and schedule baselines to track the progress of the project. Is it better to track the schedule...
-
Our team considered following 4 projects that were taken from Bluewater Health as a major project in infrastructure Ontario Project Repository. A. A new emergency department, three times the size of...
-
This is all about writing a padlet. I have attached the instructions from my professor. Please provide relevant answer with accurate resources. If it is not possible to provide correct answer please...
-
What is master production scheduling and how is it done?
-
Rockford, Skeeba, and Tapinski are partners in a business which manufactures specialty railings. Their profit and loss agreement provides for the allocation of profits and losses as follows: 1....
-
Granger Supply, Inc., has two main areas of inventory, industrial supplies and industrial cleaning equipment. The FIFO inventory method is used for industrial supplies, and the LIFO method is used...
-
A law firm that specializes in personal injury work has engaged you to assist in some litigation. The firm represents a Mr. Lawson, who was injured in an automobile accident and is alleging that he...
-
Consider a Poisson regression. Let \(e_{i}=y_{i}-\widehat{\mu}_{i}\) denote the \(i\) th ordinary residual. Assume that an intercept is used in the model so that one of the explanatory variables...
-
a. Assume that \(y_{1}, \ldots, y_{n}\) are i.i.d. with a negative binomial distribution with parameters \(r\) and \(p\). Determine the maximum likelihood estimators. b. Use the sampling mechanism in...
-
For the data in Table 12.1, confirm that the Pearson statistic in equation (12.3) is 41.98 . Table 12.1 (12.3) Count Observed (j) (nj) Fitted Counts Using the Poisson Distribution (np;) 01234 6,996...
Study smarter with the SolutionInn App