INK Co has 35 employees who work 8-hour days and are paid hourly. On January 1, 2019,
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Question:
INK Co has 35 employees who work 8-hour days and are paid hourly. On January 1, 2019, the company began a program of granting its employees 10 days of paid vacation each year. Vacation days earned in 2019 may first be taken on January 1, 2020. Information relative to these employees is as follows:
HourlyVacation Days EarnedVacation Days Used
YearWagesby Each Employeeby Each Employee
2019$25.80100
202027.00108
202128.501010
INK has chosen to accrue the liability for compensated absences at the current rates of pay in effect when the compensated time is earned.What is the total amount of Vacation Expense that will be recorded in 2020 related to the above events?
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