Answered step by step
Verified Expert Solution
Question
1 Approved Answer
P3-3 Labor Time Record, Direct vs. Indirect Labor LO2 Adam Amos, SS# 123-45-6789, is a Grade 2 Machinist who earns $18 per hour. On Monday,
P3-3 Labor Time Record, Direct vs. Indirect Labor LO2 Adam Amos, SS# 123-45-6789, is a Grade 2 Machinist who earns $18 per hour. On Monday, June 10 through Wednesday, June 12, he worked four hours per day on each of Jobs AX20 and AX25. On Thursday, he worked six hours on Job AX25 and two hours on maintenance, while on Friday he worked four hours on AX25 and four hours on maintenance. His supervisor is Emma Nyaondo, who signs off on all labor time records on Saturday of the week just ended. Required: 1. Prepare a labor time record (LTR 777) for Amos for the week ended June 15, 2016. 2. Compute the amounts of direct labor costs, by job, and indirect labor costs created by Amos work for the week. P3-4 Payroll Computation with Incentive Bonus P3-4 Payroll Computation with Incentive Bonus L01, LO2 Collier Manufacturing Co. operates on a modified wage plan. During one week's operation, the following direct labor costs were incurred: Units Completed Employee A Travis... L Nessman... B. Smithers ... Piece Rate per 100 Units $1.20 1.10 1.30 M 6,800 6,300 6,200 T 7,100 6,400 6.100 W 6,500 2,900 7,100 T 8.000 2,800 6,000 F 4.800 7,000 2.800 The employees are machine operators. Piece rates vary with the kind of product being produced. A minimum of $70 per day is guaranteed to each employee by union contract. Required: 1. Compute the weekly earnings for Travis, Nessman, and Smithers. 2. Prepare journal entries to: a. record the week's payroll, assuming that none of the employees has achieved the maximum base wage for FICA taxes. The income tax withheld for each employee amounts to 10% of gross wages. b. record payment of the payroll
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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