Calculate the overtime premium pay

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Question - The pay stub of Mr. ABC, employee No. 201 who works on the production line, showed the following information for a one month pay period:

Basic Pay

P?

Overtime Pay

P?

Total gross earnings

P31,500

Income tax withheld

P?

SSS premiums withheld

P1,125.00

PHIC withheld

P576.00

HDMF premiums withheld

P100.00

Union Dues

P150.00

Total deductions

P?

Mr. ABC is paid P180 per hour for regular time and received an additional rate of one-half (50%) for any hour in excess of 160 hours worked. Mr. ABC worked a total of 170 hours during the month.

Required -

1. Calculate the overtime premium pay.

2. Compute Mr. ABC's taxable income.

3. What is the total amount chargeable to work in process account?

Reference no: EM133171698

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