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

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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
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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
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  • Summer '17
  • MR. MUSHONGA

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