Accounting for bonus, vacation pay, and holiday pay LO 5 The factory payroll for the week is

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Accounting for bonus, vacation pay, and holiday pay LO5 The factory payroll for the week is $200,000, consisting of $140,000 earned by 100 direct laborers and $60,000 earned by 30 indirect laborers. The total of factory bonuses to be received at year-end is estimated at $400,000. All factory workers receive a two-week paid vacation and five paid holidays.

Prepare the entry to record the weekly payroll and the costs and liabilities related to the bonus, vacation, and holiday pay, assuming that the fringe benefits of the direct laborers are charged to Factory Overhead.

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Principles Of Cost Accounting

ISBN: 9780324100945

12th Edition

Authors: Edward J. Vanderbeck

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