A normal working week consists of 5 days of 8 hours each During the past week a

A normal working week consists of 5 days of 8 hours

This preview shows page 1 - 2 out of 2 pages.

doesn’t want his financial data to become mixed-up. A normal working week consists of 5 days of 8 hours each. During the past week a special order had to be finished, and Neil worked 45 hours. Lionel Carol took one day’s leave during the past week, and worked a total of 36 hours. As the profit is donated to charity, Neil is only paid R40 per hour and Lionel R44 per hour. Overtime is paid at time-and-a-half. Leave pay is provided for at R130 per week. Neil and Lionel contribute 7% each to the pension fund, and payment for overtime is exempted from pension. The tax rate, at which PAYE is calculated, is 12%, and pension fund contributions are deductable for tax. Both employees each contribute R80 per week to the medical aid. It is the policy to contribute the same amount as the employees to the pension fund and medical aid, and these contributions are classified as indirect labour. MACC211 1/2
Image of page 1

Subscribe to view the full document.

REQUIRED 1) Compile a payroll for the week for Neil Diamond and Lionel Carol. Show all the details with regards to gross wages, deductions and net wages. (5) 2) Analyse the labour cost into direct labour and indirect labour. (4) 3) Compile the wage control account, for the past week. MACC211 2/2
Image of page 2
  • Summer '17

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes