QUESTION TWO 2.1 Use the information given below to calculate the net wage of M, Rashford for the last week of June 2022 2.2 INFORMATION M, Rashford is employed by United Enterprises. The normal working week is 42 hours. M, Rashford worked for 49 hours during the last week of June 2022. He is remunerated at R78 per hour during normal working hours. Overtime is calculated at 2½ times the normal rate. The following are his deductions for the week: Medical aid fund Pension fund Income tax R420 9% of the normal wages R920 (5 marl United Enterprises contributes the same amount as the employees towards the medical aid fund and pension fund. Calculate the value of closing inventory on 31 January 2023 using the:

QUESTION TWO 2.1 Use the information given below to calculate the net wage of M, Rashford for the last week of June 2022 2.2 INFORMATION M, Rashford is employed by United Enterprises. The normal working week is 42 hours. M, Rashford worked for 49 hours during the last week of June 2022. He is remunerated at R78 per hour during normal working hours. Overtime is calculated at 2½ times the normal rate. The following are his deductions for the week: Medical aid fund Pension fund Income tax R420 9% of the normal wages R920 (5 marl United Enterprises contributes the same amount as the employees towards the medical aid fund and pension fund. Calculate the value of closing inventory on 31 January 2023 using the:

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter8: Payroll Accounting: Employee Earnings And Deductions

Section: Chapter Questions

Problem 1CE

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