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4. Three employees work in the workshop at Maigza limited. During the first week of July 2004, the following details were recorded Name of Minutes
4. Three employees work in the workshop at Maigza limited. During the first week of July 2004, the following details were recorded Name of Minutes Rate per Actual hours Actual Production allowed per unit Hour (K) taken in Units employee Kabwe Spacio 14 22,000 48 250 Mukuka Offering 20 24,000 40 200 Stomach Bwalya 22 32,000 50 120 A bonus scheme is in operation where employees receive 60% of time saved at a normal cate. The basic working week is 40 hours. Hours in excess are paid at time and a half. Additional information indicates that; (a) Each employee pays 6% of gross pay as a pension. (b) Each employee pays 35% of gross pay a PAYE (c) Each employee contributes K30,000 per week to a golf club Required: (a) Prepare a pay statement showing gross and net wages for each employee. (b) Prepare the Journal entries for the above data
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