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  • COST21

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    Rizeth Ahne Marie Garay
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    This document provides payroll data for 5 employees including their name, exemption status, classification, hourly rate, regular hours worked, overtime hours worked, regular pay, overtime pay, and total pay. It asks to calculate the net pay for each employee and provide the journal entries to record the payroll, pay the payroll, distribute the payroll costs, and record the employer's payroll taxes. The journal entries show payroll expenses of $7,620 being recorded, the voucher payable of $7,620 being paid in cash, $5,220 of payroll costs being distributed to Work in Process and $2,400 to Factory Overhead Control.

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    COST21.docx

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    This document provides payroll data for 5 employees including their name, exemption status, classification, hourly rate, regular hours worked, overtime hours worked, regular pay, overtime pay, and total pay. It asks to calculate the net pay for each employee and provide the journal entries to record the payroll, pay the payroll, distribute the payroll costs, and record the employer's payroll taxes. The journal entries show payroll expenses of $7,620 being recorded, the voucher payable of $7,620 being paid in cash, $5,220 of payroll costs being distributed to Work in Process and $2,400 to Factory Overhead Control.

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    6 views1 page

    COST21

    Uploaded by

    Rizeth Ahne Marie Garay
    This document provides payroll data for 5 employees including their name, exemption status, classification, hourly rate, regular hours worked, overtime hours worked, regular pay, overtime pay, and total pay. It asks to calculate the net pay for each employee and provide the journal entries to record the payroll, pay the payroll, distribute the payroll costs, and record the employer's payroll taxes. The journal entries show payroll expenses of $7,620 being recorded, the voucher payable of $7,620 being paid in cash, $5,220 of payroll costs being distributed to Work in Process and $2,400 to Factory Overhead Control.

    Copyright:

    © All Rights Reserved
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    of 1

    Problem 2

    A weekly payroll summary made from time tickets shows the following data:
    Exempti Number of
    on Rate/ Hours
    Regul Overti
    Employees Status Classification Hour ar me
    Austria, B. S Direct P 36 40 2
    Bautista, D. ME Direct 36 40 3
    De Santos, M. ME - 2 Direct 45 40 4
    Motus, R. HF - 4 Indirect 30 40
    Reyes, A. HF Indirect 30 40

    Overtime is payable at one-and-a-half times the regular rate of pay for an


    employee.
    Required:
    a. Determine the net pay of each employee.
    Employee Regular Overtime Total
    Austria, B. 1,440 108 1,548
    Bautista, D. 1,440 162 1,602
    De Santos, M. 1,800 270 2,070
    Motus, R. 1,200 1,200
    Reyes, A. 1,200 1,200

    b. Prepare the journal entries for:


    1. Recording the payroll
    2. Payment of the payroll
    3. Distribution of the payroll
    4. The employer’s payroll taxes
    1 Payroll 7,620
    Voucher Payable 7,620

    2 Voucher Payable 7,620


    Cash 7,620

    3 Work in Process 5,220


    Factory Overhead Control 2,400
    Payroll 7,620

    4 No entry

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