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Jose Bonifacio, an employee of the Hero Co
Jose Bonifacio, an employee of the Hero Co. is paid P600 per hour for a regular week for 40 hours per week. During the week ended Dec. 14, Jose worked for 52 hours and earned time and a half for overtime hours. If overtime work is due to rush nature of the job, how much should be charged to Factory Overhead account? Your answer
Expert Solution
Earned time and a half means to pay 50% (1.5) more than an employee's regular rate of pay. so,
$600 * 40 hours per week = $24,000
and for the remaining additional 12 hours we should pay 50% more than regular rate of pay which is [$600 * 1.5 = $900] so
$900 * 12 hours = $10,800
So, $10,800 should be charged to factory overhead account...
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