11 pointDaktari Enterprises' Schedule of Earnings and Payroll Taxes for April is as follows:SSTotalPag-ibig1%GrossEarnings8%4%TaxesNon-Factory Employees:SalesP 8005601.360P 100_70170P 400280_ 680P1,300P 10,0001,00017,0009102,210AdministrativeFactory Employees:Direct Labor:Regular80,0005,00030.000115.000P132,0006,4008003,20010,400Overtime Premium40050200650Indirect Labor2.4009.200P10.5603001.150P1.3201.2004,600PS.2803,90014,950P1Z,160TotalAssuming overtime was the result of random scheduling of jobs, the entry to distribute payroll would include:A credit to Wages Payable for P114,800.A debit to Factory Overhead for P35,000.A debit to Payroll for P132,000.A debit to Work in Process for P85,000DE0000

Payroll refers to the wages and salary given to the employees with the information related to their…

Assuming overtime was the result of random scheduling of jobs, the entry to distribute payroll would include: A credit to Wages Payable for P114,800. A debit to Factory Overhead for P35,000. A debit to Payroll for P132,000. A debit to Work in Process for P85,000

Assuming overtime was the result of random scheduling of jobs, the entry to distribute payroll would include: A credit to Wages Payable for P114,800. A debit to Factory Overhead for P35,000. A debit to Payroll for P132,000. A debit to Work in Process for P85,000

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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