14. Owl Corp. has the following data for the month of March 2021: P2,000,000 Gross Payroll Employee's deductions: SSS Contribution P20,000 Philhealth 10,000 Pag-ibig Witholding taxes 10,000 100,000 The employer share of mandatory deductions are as follows: SSS Contribution Philhealth P40,000 10,000 Pag-ibig 10,000 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.
14. Owl Corp. has the following data for the month of March 2021: P2,000,000 Gross Payroll Employee's deductions: SSS Contribution P20,000 Philhealth 10,000 Pag-ibig Witholding taxes 10,000 100,000 The employer share of mandatory deductions are as follows: SSS Contribution Philhealth P40,000 10,000 Pag-ibig 10,000 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.
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 10PA: Lemur Corp. is going to pay three employees a year-end bonus. The amount of the year-end bonus and...
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