What was becky gross compensation for the week

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Reference no: EM131401591

Problem A -

Becky Gonzalez earns $ .50 for every unit she makes up to 240 units. She makes an additional $.10 on every unit she makes over 200. The union contract guarantees her a minimum of $12 per hour. During one week, her hours and productivity were as follows:

Day

Hours Worked

Units completed

Monday

8

210

Tuesday

8

185

Wednesday

8

225

Thursday

8

235

Friday

8

175

1. What was Becky's gross compensation for the week?

2. Assuming no idle time (all hours were productive), prepare the journal entry to record the salary payable to Becky for the week. HINT: Don't forget to consider the amount of any make-up guarantee.

Problem C -

Prepare a journal entry to record the following for September:

Direct labor (factory)

 $     60,000

Indirect labor (factory)

        12,000

Sales commission

          3,500

Sales & Administrative Salaries

        45,000

Medical insurance premiums

          1,500

The company considers all employer payroll taxes for factory workers to be a product costs.

Medical insurance is paid 100% by the employer.

The company makes a 2% contribution (on all compensation) to an employee 401(k) plan.

For this problem, assume the following tax rates:

Federal income tax

15.0%


FICA

8.0%

8%

SUTA

3.5%


Ignore any other payroll taxes; Assume all employees are under any tax thresholds.

Attachment:- Assignment File.rar

Reference no: EM131401591

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len1401591

2/20/2017 11:54:02 PM

Just needs final answer for Problem A and Problem C. The question is given in excel file and solution requirement is given in PDF. Assuming no idle time (all hours were productive), prepare the journal entry to record the salary payable to Becky for the week. HINT: Don't forget to consider the amount of any make-up guarantee.

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