CoursHeroTranscribedText: Richard Corp has the following data for the third week of December: Employee Name...

50.1K

Verified Solution

Question

Accounting

image
CoursHeroTranscribedText: Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per Hour Kuhl Laborer 45 50 Aileen Office Secretary 46 45 Jose Laborer 50 52 Jay Factory Supervisor 55 48 Richmond Sales agent 52 60 Edward Laborer 48 45 The following are to be deducted from the gross earnings of employees: Withholding taxes - 5% Social Security System contributions - 3% Philippine Health Insurance - 1% Home Development Mutual Fund - 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. a. How much is the gross payroll? b. How much is the amount charged to Work in Process? c. How much is the amount charged to manufacturing overhead? d. How much is the total amount charged to Selling and Administrative expenses

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students