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A rush order was accepted by Red Machine Conversions for five van conversions. The labor time records for the week ended January 27 shows the following: Labor time Records- Hour Distribution Employees Hours Van #1 Van#2 Van#3 Van#4 Van#5 Arroyo(supervisor) 42 Aurelia 45 10 10 10 10 5 Lopez 48 24 24 Dunn 45 15 15 15 LaRue 42 24 8 Kearns 40 20 10 All employees are paid $10 per hour, except Arroyo, who receives $15 per hour. All overtime premium pay, except Arroyo's, is chargable to the job, and all employees, including Arroyo, receive time and a half for overtime hours.
1) Calculate the total payroll and total net earnings for the week. Assume an 18% deduction for federal income tax, inaddition to FICA Deductions.Assume that none of the employees has achieved the maximu=ms for FICA and unemployment taxes.
2)Prepare the journal entries to record and pay the payroll 10 1
repair bills for large machinery may include a flat fee for the visit to the companys premises plus additional labor
financial statement analysis is used by investors creditors and managers of business to evaluate the operation and
wolverine engineering makes two types of grinding tools. z300 is a regular grinding tool and q650 is a precision tool.
Prepare Journal Entries for the government based on the production of fund-based financial statements. Than prepare JE entries in anticipation of preparing governement-wide financial statements. Before each JE state which fund the JE is recorded i..
In November and December 2007, Lane Co., a newly organized magazine publisher, received $90,000 for 1,000 three-year subscriptions at $30 per year, starting with the January 2008 issue. Lane included the entire $90,000 in its 2007 income tax retur..
The Evanec Company's next expected dividend, D1, is $3.18; its growth rate is 6%; and its common stock now sells for $36.00. New stock can be sold to net $32.40 per share. What is Evanec's percentage flotation cost, F?
brady service center just purchased an automobile hoist for 31310. the hoist has an 8-year life and an estimated
Stroth Corporation uses activity-based costing to compute product margins. Overhead costs have already been allocated to the company's three activity cost pools-Machining, Order Filling, and Other.
kolinchak companys expected gross payroll for the period is 300000. assuming that its fica rate is 7.65 its futa rate
robert buey became chief executive officer of phelps manufacturing two years ago. at the time the company was reporting
Financial interpretation No. 46R, "Consolidation of Variable Interest Entities," reference several FASB Concepts Statements in motivating the need to identify and consolidate variable interest entities.
1. a capital expenditure would appear on thenbspa.income statement under operating expenses.nbspb.balance sheet under
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