Accounting for overtime pay. An employee of the Assembly Department is paid $20 per hour for...
Accounting for overtime pay.
An employee of the Assembly Department is paid $20 per hour for a regular week of 40 hours. During the week ended July 15, the employee worked 50 hours and earned time and a half for the overtime hours.
Instructions:
1. Prepare the entry to distribute the labor cost if the job worked on during overtime was a rush order, the contract price of which included the overtime premium.
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Account |
Debit |
Credit |
2. Prepare the entry to distribute the labor cost if the job worked on during overtime was the result of random scheduling.
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Account |
Debit |
Credit |
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Accounting for overtime pay.
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employees, whose job is to cut out wooden knife handles, worked 51
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a 40-hour week, and overtime is paid after 40 hours. For additional
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Regular duties involving cutting out knife handles
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hours
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