Compute the excess month pay and other benefits

Assignment Help Accounting Basics

Reference no: EM132835773

A private rank and file employee working in a remote tower station of No-Signal Telecom received the following benefit during

2014:

13th month pay P 67,000
Performance bonus 15,000
Christmas gift 22,000
Danger exposure allowance (hazard pay) 6,000
Housing privilege 38,000
Uniform and clothing allowance 7,000
Laundry allowance 6,000

The housing privilege pertains to the annual value of the employees living quarters furnished by the employer and is purely part of the compensation and it is given NOT for the convenience of the employer.

Required:

Problem 1: Compute the excess 13th month pay and other benefits.

Reference no: EM132835773

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