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8. Mr. Koala, a factory worker is paid P150 per hour for a regular work of 40 hours. During the week, Mr. Koala worked 45 hours and earned time and a half for overtime hours.

8. Mr. Koala, a factory worker is paid P150 per hour for a regular work of 40 hours. During the week, Mr. Koala worked 45 hours and earned time and a half for overtime hours.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What is the answer in number 8?~
The amount charged to Work in Process account is how much? 5. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour M. Kuhol N. Aileen O. Jose P. Jay Q. Richmond R. Edward Laborer Office Secretary 45 50 46 45 Laborer 50 52 Factory Supervisor 55 Sales agent 48 52 60 Laborer 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes SSS contributions Philhealth 5% 3% 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. How much is the amount charged to Manufacturing Overhead? 6. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour S. Kuhol Laborer Office Secretary 45 50 T. Aileen 46 45 U. Jose V. Jay W. Richmond X. Edward Laborer 50 52 Factory Supervisor 55 48 Sales agent Laborer 52 60 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes SSS contributions Philhealth 5% 3% 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. What is the total amount charged to Selling and Administrative expenses? 7. Mr. Koala, a factory worker is paid P150 per hour for a regular work of 40 hours. During the week, Mr. Koala worked 45 hours and earned time and a half for overtime hours. If overtime premium is charged to the jobs worked during the overtime hours, how much is the amount charged to Work in Process account? 8. Mr. Koala, a factory worker is paid P150 per hour for a regular work of 40 hours. During the week, Mr. Koala worked 45 hours and earned time and a half for overtime hours.
Transcribed Image Text:The amount charged to Work in Process account is how much? 5. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour M. Kuhol N. Aileen O. Jose P. Jay Q. Richmond R. Edward Laborer Office Secretary 45 50 46 45 Laborer 50 52 Factory Supervisor 55 Sales agent 48 52 60 Laborer 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes SSS contributions Philhealth 5% 3% 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. How much is the amount charged to Manufacturing Overhead? 6. Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour S. Kuhol Laborer Office Secretary 45 50 T. Aileen 46 45 U. Jose V. Jay W. Richmond X. Edward Laborer 50 52 Factory Supervisor 55 48 Sales agent Laborer 52 60 48 45 The following are to be deducted to the gross earnings of employees: Witholding taxes SSS contributions Philhealth 5% 3% 1% Pag-ibig 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. What is the total amount charged to Selling and Administrative expenses? 7. Mr. Koala, a factory worker is paid P150 per hour for a regular work of 40 hours. During the week, Mr. Koala worked 45 hours and earned time and a half for overtime hours. If overtime premium is charged to the jobs worked during the overtime hours, how much is the amount charged to Work in Process account? 8. Mr. Koala, a factory worker is paid P150 per hour for a regular work of 40 hours. During the week, Mr. Koala worked 45 hours and earned time and a half for overtime hours.
If the overtime premium is not charged to specific jobs, How much is the amount charged to Factory overhead? 1. 9. Peter Senen Corp has the following data for the fourth week of March Hours Worked Employee Name Hourly Rate Sun Mon Tue Wed Thurs Fri Sat Total Kris 900 6. 8 8 8 8 8 8 54 Bryan 950 8. 7 10 9 7 8 49 - Rose 750 1 8 8 10 9 8 53 Tess 900 5 8 10 8 8 9 8 56 Jose 1,000 9 8 8 6 7 10 8 56 The rate for hours in excess of 40 is one and half times the regular rate. The rate for hours worked on Sunday is twice the regular rate. What is the gross earnings for the week? 10. Senen, a factory laborer earns P18,000 per month, and the company pays one month salary as a bonus at the end of the year. Senen is entitled to a half month paid vacation leave. The company also pays P4,000 a year into a pension fund of the worker. All fringe benefits of factory laborer are charged to the factory overhead control account. The fringe benefits are charged to production during the 11 1/2 months the employee is at work. What is the estimated liability for fringe benefits? 11. Senen, a factory laborer earns P18,000 per month, and the company pays one month salary as a bonus at the end of the year. Senen is entitled to a half month paid vacation leave. The company also pays P4,000 a year into a pension fund of the worker. All fringe benefits of factory laborer are charged to the factory overhead control account. The fringe benefits are charged to production during the 11 1/2 months the employee is at work. Determine the gross payroll. 12. Senen, a factory laborer earns P18,000 per month, and the company pays one month salary as a bonus at the end of the year. Senen is entitled to a half month paid vacation leave. The company also pays P4,000 a year into a pension fund of the worker. All fringe benefits of factory laborer are charged to the factory overhead control account. The fringe benefits are charged to production during the 11 1/2 months the employee is at work. What is the amount charged to Worked in Process account? 13. Senen, a factory laborer earns P18,000 per month, and the company pays one month salary as a bonus at the end of the year. Senen is entitled to a half month paid vacation lea pays P4,000 a year into a pension fund of the worker. All fringe benefits of factory laborer are charged to the factory overhead control account. The fringe benefits are charged to production during the 11 1/2 months the employee is at work. ve. The company also What is the amount charged to Factory Overhead? 14. Ethel Corp. Has the following data for the month of March 2021: Gross Payroll Employee's deductions: SSS Contribution P1,000,000 P20,000 10,000 Philhealth
Transcribed Image Text:If the overtime premium is not charged to specific jobs, How much is the amount charged to Factory overhead? 1. 9. Peter Senen Corp has the following data for the fourth week of March Hours Worked Employee Name Hourly Rate Sun Mon Tue Wed Thurs Fri Sat Total Kris 900 6. 8 8 8 8 8 8 54 Bryan 950 8. 7 10 9 7 8 49 - Rose 750 1 8 8 10 9 8 53 Tess 900 5 8 10 8 8 9 8 56 Jose 1,000 9 8 8 6 7 10 8 56 The rate for hours in excess of 40 is one and half times the regular rate. The rate for hours worked on Sunday is twice the regular rate. What is the gross earnings for the week? 10. Senen, a factory laborer earns P18,000 per month, and the company pays one month salary as a bonus at the end of the year. Senen is entitled to a half month paid vacation leave. The company also pays P4,000 a year into a pension fund of the worker. All fringe benefits of factory laborer are charged to the factory overhead control account. The fringe benefits are charged to production during the 11 1/2 months the employee is at work. What is the estimated liability for fringe benefits? 11. Senen, a factory laborer earns P18,000 per month, and the company pays one month salary as a bonus at the end of the year. Senen is entitled to a half month paid vacation leave. The company also pays P4,000 a year into a pension fund of the worker. All fringe benefits of factory laborer are charged to the factory overhead control account. The fringe benefits are charged to production during the 11 1/2 months the employee is at work. Determine the gross payroll. 12. Senen, a factory laborer earns P18,000 per month, and the company pays one month salary as a bonus at the end of the year. Senen is entitled to a half month paid vacation leave. The company also pays P4,000 a year into a pension fund of the worker. All fringe benefits of factory laborer are charged to the factory overhead control account. The fringe benefits are charged to production during the 11 1/2 months the employee is at work. What is the amount charged to Worked in Process account? 13. Senen, a factory laborer earns P18,000 per month, and the company pays one month salary as a bonus at the end of the year. Senen is entitled to a half month paid vacation lea pays P4,000 a year into a pension fund of the worker. All fringe benefits of factory laborer are charged to the factory overhead control account. The fringe benefits are charged to production during the 11 1/2 months the employee is at work. ve. The company also What is the amount charged to Factory Overhead? 14. Ethel Corp. Has the following data for the month of March 2021: Gross Payroll Employee's deductions: SSS Contribution P1,000,000 P20,000 10,000 Philhealth
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