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Questions- Accounting for Labor Costs 2023 1.Rolly Sion an employee of Queu Company submitted the following labor data for the first week in October: Determine
Questions- Accounting for Labor Costs 2023 1.Rolly Sion an employee of Queu Company submitted the following labor data for the first week in October: Determine Rolly's total earnings for the week assuming a 100% bonus plan with a base wage of P90 per hour and a standard production rate of 30 units per hour. Under this plan, an employee is paid for the standard time at the hourly rate if the unit is completed in the standard time or less. Assume that bonus is computed weekly based on total production for the week. 2. Ten employees work as a group in Almond Company. When the group's weekly production exceeds the standard number of pieces per hour, each worker in the group is paid a bonus for the excess production in addition to wages at hourly rates. The amount of bonus is computed by first determining the percentage by which the group's production exceeds the standard. This percentage is then applied to a wage rate of P90 per hour to determine an hourly bonus rate. The standard rate of production before a bonus can be earned is 200 pieces per hour for total hours worked. Determine the week's earnings of each employee. 3. Four factory workers and a supervisor constitute one team in the Fabricating Department. The supervisor earns P100 per hour, and the combined hourly direct wages of the four workers is P320. Each employee is entitled to a 2 -week paid vacation and a bonus equal to 4 weeks' wages each year. Vacation pay and bonuses are treated as an indirect cost and are accrued every week for one year. A provision in the union contract does not allow these employees to work in excess of 40 hours per week. Determine the amount of Bonus and Vacation Pay Liability applicable to one week's production
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