USING EXERCISE 4.8 information (NN Company) answer the following requirements (use actual contribution for SSS, PHIC...

 

Transcribed Image Text:

USING EXERCISE 4.8 information (NN Company) answer the following requirements (use actual contribution for SSS, PHIC (3%), Pagibig and actual withholding tax): 1. How much total cash will be paid to employees for the last week of November? 2. How much is Work in Process-Direct Labor? 3. How much will be charged to Factory Overhead Control in recording all employer contribution? 4. How much will be the total amount of remittance to SSS? 5. How much will be the total amount of remittance to BIR? (5 points) Exerche 4-8. PAYROLL PROCEDURES. NN Company operates on a 6-day week, with time and one-quarter for all hours over eight during the regular days. The time cards for the week ending November 30 showed No Nome Mon 002 Tibs Romon 8 B 004 Teddy 8 005 Alt 8 006 Rene 8 007 Aga 8 Tues Wed Thurs 8 6 6 Sof Rate/tv P120 . 80 NO 20 4 20 8 S 70 8 . 80 8 . 80 An analysis of the job time tickets and payroll records showed: No. Job No. Mon Tues Wed Thurs Fri Sat 001 Supervisor 8 8 8 8 8 8 002 701 S 7 6 6 . 702 2 2 7 4 003 701 8 4 702 8 8 B . 5 4 004 702 4 2 4 703 8 7 8 5 6 005 703 6 7 4 8 7 3 704 2 2 5 2 2 006 704 4 7 6 4 4 4 705 4 2 2 4 5 007 704 8 4 3 2 4 4 705 5 5 6 Previous earnings in June (November 1-24) No. 001 19.210.00 002 16.204.00 003 12.814.00 004 12.706.00 005 12.528.00 006 16.102.00 007 14.538.00 C USING EXERCISE 4.8 information (NN Company) answer the following requirements (use actual contribution for SSS, PHIC (3%), Pagibig and actual withholding tax): 1. How much total cash will be paid to employees for the last week of November? 2. How much is Work in Process-Direct Labor? 3. How much will be charged to Factory Overhead Control in recording all employer contribution? 4. How much will be the total amount of remittance to SSS? 5. How much will be the total amount of remittance to BIR? (5 points) Exerche 4-8. PAYROLL PROCEDURES. NN Company operates on a 6-day week, with time and one-quarter for all hours over eight during the regular days. The time cards for the week ending November 30 showed No Nome Mon 002 Tibs Romon 8 B 004 Teddy 8 005 Alt 8 006 Rene 8 007 Aga 8 Tues Wed Thurs 8 6 6 Sof Rate/tv P120 . 80 NO 20 4 20 8 S 70 8 . 80 8 . 80 An analysis of the job time tickets and payroll records showed: No. Job No. Mon Tues Wed Thurs Fri Sat 001 Supervisor 8 8 8 8 8 8 002 701 S 7 6 6 . 702 2 2 7 4 003 701 8 4 702 8 8 B . 5 4 004 702 4 2 4 703 8 7 8 5 6 005 703 6 7 4 8 7 3 704 2 2 5 2 2 006 704 4 7 6 4 4 4 705 4 2 2 4 5 007 704 8 4 3 2 4 4 705 5 5 6 Previous earnings in June (November 1-24) No. 001 19.210.00 002 16.204.00 003 12.814.00 004 12.706.00 005 12.528.00 006 16.102.00 007 14.538.00 C