Solution-What is total amount chargeable to work in process

What is total amount chargeable to work in process account

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Reference no: EM133174811

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: EM133174811

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What is total amount chargeable to work in process account

Reference no: EM133174811

Reference no: EM133174811

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