Packett Company allows each employee two weeks' paid vacation after the employee has worked at the company for one year (50 weeks work). On the basis of past experience, management estimates that 80 percent of employees will qualify for vacation pay this year. Assume that the March payroll is $300,000. Compute the vacation pay expense for the month. Show your computation.

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The Answer of Packett Company allows each employee two weeks' paid vacation after the employee has worked at the company for one year (50 weeks work). On the basis of past experience, management estimates that 80 percent of employees will qualify for vacation pay this year. Assume that the March payroll is $300,000. Compute the vacation pay expense for the month. Show your computation.

Packett Company Allows Each Employee Two Weeks' Paid Vacation After