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Employees earn vacation pay at the rate of one day per month. During the month of July, 19 employees qualify for one vacation day each. Their average daily wage is $94 per day. What is the amount of vacation benefit expense to be recorded for the month of July

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abiolataiwo2015

Answer:

$1,786

Explanation:

Calculation for the amount of vacation benefit expense to be recorded for the month of July

Using this formula

Vacation beneift expenses= Numbers of qualified employees ×Average daily wage

Let plug in the formula

Vacation benefit expenses =19×$94

Vacation benefit expenses =$1,786

Therefore the amount of vacation benefit expense to be recorded for the month of July will be $1,786

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