Answered step by step
Verified Expert Solution
Question
1 Approved Answer
4. The data below pertains to the earnings of Juan Manuel for the week ended June 15, 2020: 3 points Hours and rate Earnings
4. The data below pertains to the earnings of Juan Manuel for the week ended June 15, 2020: 3 points Hours and rate Earnings to date Overtime rate 42 hours worked at P40/hr P14.00 1 and times the regular rate for hours worked in excess of 40 hours Withholding tax SSS contributions Phil. Health contributions Pag ibig contributions 3% of gross earnings 2% of gross earnings 1% of gross earnings What is net pay for Juan Manuel for the week? 1% of gross earnings 5. Four factory workers and a supervisor make a team in the Machining Department. The supervisor earns P100 per hour, and the combined hourly charge of the four workers is P320. Each employee is entitled to a 2-week paid vacation and a bonus equal to 4 week's wages each year. Vacation pay and bonuses are treated as indirect costs and are accrued over the 50 week work year. A provision in the union contract does not allow these employees to work in excess of 40 hours per week. What is the amount to be charged to Manufacturing Overhead Control account? 6. Using the data in No. 5, what is the estimated liability for bonus? 7. Using the data in No. 5, what is the estimated liability for vacation pay?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
4 To calculate the net pay for Juan Manuel for the week we need to use the given information Given information Hours worked 42 hours Regular rate 40 per hour Overtime rate 15 times the regular rate fo...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started