Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. timmah works has 4 employees in its packaging depa

Timmah works has 4 employees in its packaging department. All work is done on a...

80.2K

Verified Solution

Question

Accounting

Timmah works has 4 employees in its packaging department. All work is done on a job order basis. During the first week of May 2021, each employee worked a full 40-hour week with the following outputs: Employee guaranteed hourly min. rate (Ghs) unit packaged Richmond Mensah 2,700 1,290 Akua Bubune 3,415 1,630 Nyamekye Joan 2,800 1,000 Paa kwesi 3,150 1,704 Additional information; (a) Wages are paid on a piecework basis at ghs85 per package but completely subject the guaranteed hourly minimum rate.(highest of the two) (b) Employees contribute 5% SSF and 71/2 % to welfare fund. ( c) Income tax is 10% flat rate. Required; Prepare the payroll for the period.

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