REQUIRED Calculate Mary's earnings for 31 October 2023 using the straight piecework wage incentive scheme. INFORMATION Mary is employed by Menton Manufacturers to sew dresses. The standard time to sew one dress is 40 minutes. She is paid R120 per hour and the normal working time is 8 hours per day. If she sews more than her quota, she receives 1.5 times the hourly rate on the additional output. On 31 October 2023 she sewed 18 dresses.
REQUIRED Calculate Mary's earnings for 31 October 2023 using the straight piecework wage incentive scheme. INFORMATION Mary is employed by Menton Manufacturers to sew dresses. The standard time to sew one dress is 40 minutes. She is paid R120 per hour and the normal working time is 8 hours per day. If she sews more than her quota, she receives 1.5 times the hourly rate on the additional output. On 31 October 2023 she sewed 18 dresses.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter8: Payroll Accounting: Employee Earnings And Deductions
Section: Chapter Questions
Problem 2SEB
Related questions
Question
![Question-1
1.1
REQUIRED
Calculate Mary's earnings for 31 October 2023 using the straight piecework wage
incentive scheme.
INFORMATION
Mary is employed by Menton Manufacturers to sew dresses. The standard time to sew one dress is 40
minutes. She is paid R120 per hour and the normal working time is 8 hours per day. If she sews more than
her quota, she receives 1.5 times the hourly rate on the additional output. On 31 October 2023 she sewed
18 dresses.
1.2
REQUIRED Calculate the net salary of H. Gordon for December.
INFORMATION
H. Gordon's basic annual salary is R240 000. He receives an annual bonus of 80% of his basic monthly
salary, payable in December each year. His pension deduction is 8% of the basic salary and income tax is
levied at 20% on his taxable income.
1.3
REQUIRED Calculate the economic order quantity for the year.
INFORMATION
Suntan Limited produces a product which has a steady monthly demand of 4 000 units. The product requires
a component that is purchased from a supplier at R20 per unit. The ordering cost is R1.20 per order. The
holding cost is 10% of the unit purchase price.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F75ef029c-a793-4687-bd4e-5a8e709aedfc%2Facf83eae-60a7-425e-8181-8e0285c754b0%2F9x3mf4g_processed.png&w=3840&q=75)
Transcribed Image Text:Question-1
1.1
REQUIRED
Calculate Mary's earnings for 31 October 2023 using the straight piecework wage
incentive scheme.
INFORMATION
Mary is employed by Menton Manufacturers to sew dresses. The standard time to sew one dress is 40
minutes. She is paid R120 per hour and the normal working time is 8 hours per day. If she sews more than
her quota, she receives 1.5 times the hourly rate on the additional output. On 31 October 2023 she sewed
18 dresses.
1.2
REQUIRED Calculate the net salary of H. Gordon for December.
INFORMATION
H. Gordon's basic annual salary is R240 000. He receives an annual bonus of 80% of his basic monthly
salary, payable in December each year. His pension deduction is 8% of the basic salary and income tax is
levied at 20% on his taxable income.
1.3
REQUIRED Calculate the economic order quantity for the year.
INFORMATION
Suntan Limited produces a product which has a steady monthly demand of 4 000 units. The product requires
a component that is purchased from a supplier at R20 per unit. The ordering cost is R1.20 per order. The
holding cost is 10% of the unit purchase price.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
![College Accounting, Chapters 1-27 (New in Account…](https://www.bartleby.com/isbn_cover_images/9781305666160/9781305666160_smallCoverImage.gif)
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
![College Accounting, Chapters 1-27 (New in Account…](https://www.bartleby.com/isbn_cover_images/9781305666160/9781305666160_smallCoverImage.gif)
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning