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Homework answers / question archive / James worked a total of 186 hours for the month of June 2020

James worked a total of 186 hours for the month of June 2020

Accounting

James worked a total of 186 hours for the month of June 2020. His rate per hour is working hours of the 450 per hour. Overtime premium is 30%. The company is 8 hours a day. The company's regular working days is from Monday to Friday or 5 days a week. Overtime was due to customer's specifications / order. What is the amount of labor cost charged to WIP?

 

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June 2020- 22 working days x 8 hours per day= 176 normal working hours

 

Hours worked in June= 186

Normal Working Hours= 176

Overtime hours= 10 hours

 

176 normal working hours= 176 x 450 = 79,200

10 overtime hours = 10 x 450 x 1.3 = 5,850

Total= 85,050

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