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How much total liability to be recognized on September

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Reference no: EM132742990

Question - For the next three questions:

Considering that factory - employee (machine operator) was employed since January 1, 2020, and the monthly rate of this employee is P40,000.00, thus an hourly rate of P230. Employee is paid every 5th of the following month for the whole prior month worked.

- Given the following, for the month of September 2020.

- Employee has 1 day absent for the month of September

- Employee rendered 5 hours overtime as required by the client to accomplish the order ASAP.

- Overtime premium is 25%

Please use the LATEST contribution tables of SSS, Philhealth, Pag-ibig and Withholding Tax, of the Philippines.

Question 1 - How much is the total liability to be recognized on September 30, 2020?

41,850

39,598

41,438

40,000

Question 2 - The following are not incorrect regarding the journal entry to record the transaction above, except:

Debit to FOH - Control - 2,252

Debit to WIP - 39,598

Credit to HDMF Premium Payable - 100

Credit to SSS Premium Payable - 2,430

Question 3 - How much is the net pay of the employee?

35,385

33,245

34,465

38,160

Reference no: EM132742990

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