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vity4-Accounting for labor ac T IS tnC amou t Clharg tu to Tactory

vity4-Accounting for labor ac T IS tnC amou t Clharg tu to Tactory

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 are the answerr for questions number 14-16?

14:15 Activity4-Accounting for labor ad... (h W lat IS tuIC almouml Clargta tO Tactory OvcHIcaU? 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 10,000 Philhealth PAg-ibig Witholding taxes 100,000 The employer share of mandatory deductions are as follows: SSS Contribution P40,000 10,000 10,000 Philhealth Pag-ibig The company distributes its total payroll as follows: 50% to direct labor; 20% to indirect labor; 25% to administrative and 5% to sales salary. The company also apportions employer's contribution as follows: 70% to factory overhead; 25% to administrative and 5% to selling expenses. Determine the following: A. total accrued payroll. B. the amount charged to Worked in Process account. C. the amount charged to Factory Overhead. D. the employer's share charged to Factory Overhead. E. the employer's share charged to Selling and Administrative Expenses 15. The following are data available for the month of September 2021 of Saint James Corp. Gross Earnings P8,500,000 Deductions: SSS Contribution 425,000 85,000 85,000 2,125,000 Philhealth Pag-ibig Witholding taxes Determine the following: A. Accrued payroll Dashboard Calendar Тo Do Notifications Inbox 00
Transcribed Image Text:14:15 Activity4-Accounting for labor ad... (h W lat IS tuIC almouml Clargta tO Tactory OvcHIcaU? 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 10,000 Philhealth PAg-ibig Witholding taxes 100,000 The employer share of mandatory deductions are as follows: SSS Contribution P40,000 10,000 10,000 Philhealth Pag-ibig The company distributes its total payroll as follows: 50% to direct labor; 20% to indirect labor; 25% to administrative and 5% to sales salary. The company also apportions employer's contribution as follows: 70% to factory overhead; 25% to administrative and 5% to selling expenses. Determine the following: A. total accrued payroll. B. the amount charged to Worked in Process account. C. the amount charged to Factory Overhead. D. the employer's share charged to Factory Overhead. E. the employer's share charged to Selling and Administrative Expenses 15. The following are data available for the month of September 2021 of Saint James Corp. Gross Earnings P8,500,000 Deductions: SSS Contribution 425,000 85,000 85,000 2,125,000 Philhealth Pag-ibig Witholding taxes Determine the following: A. Accrued payroll Dashboard Calendar Тo Do Notifications Inbox 00
14:15 Activity4-Accounting for labor ad... 15. The following are data available for the month of September 2021 of Saint James Corp. Gross Earnings P8,500,000 Deductions: SSS Contribution 425,000 85,000 85,000 2,125,000 Philhealth Pag-ibig Witholding taxes Determine the following: A. Accrued payroll B. Amount charged to Worked in Process account 16. The following data of JYD Corp. Workers idle time are as follows: Normal Idle Time Abnormal Wage Rate/hr. Mr. Gom, Factory Supervisor Idle time 6 hrs 2 hrs P400 Mr. Bur, Factory laborer hrs 8 hrs 2 250 8 hrs Mr. Za, Factory laborer hrs. 2 250 Prepare the journal entry to record the idle time of the three workers. 8 Dashboard Calendar Тo Do Notifications Inbox
Transcribed Image Text:14:15 Activity4-Accounting for labor ad... 15. The following are data available for the month of September 2021 of Saint James Corp. Gross Earnings P8,500,000 Deductions: SSS Contribution 425,000 85,000 85,000 2,125,000 Philhealth Pag-ibig Witholding taxes Determine the following: A. Accrued payroll B. Amount charged to Worked in Process account 16. The following data of JYD Corp. Workers idle time are as follows: Normal Idle Time Abnormal Wage Rate/hr. Mr. Gom, Factory Supervisor Idle time 6 hrs 2 hrs P400 Mr. Bur, Factory laborer hrs 8 hrs 2 250 8 hrs Mr. Za, Factory laborer hrs. 2 250 Prepare the journal entry to record the idle time of the three workers. 8 Dashboard Calendar Тo Do Notifications Inbox
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