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    Phil. Health Contributions

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    hae1234
    The document contains 8 assignments related to calculating earnings and payroll liabilities for various employees. The assignments provide information on hourly wages, overtime rates, taxes withheld, benefits contributions and accruals, and ask to calculate gross earnings, net pay, amounts to charge to different accounts, and estimated liabilities. Details provided include regular and overtime hours worked, hourly rates, tax rates, and information on benefits like vacation pay and bonuses. Calculations require setting up and solving equations based on the hourly wage and overtime rules provided for each employee.

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    © All Rights Reserved
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    Phil. Health Contributions

    Uploaded by

    hae1234
    14K views5 pages
    The document contains 8 assignments related to calculating earnings and payroll liabilities for various employees. The assignments provide information on hourly wages, overtime rates, taxes withheld, benefits contributions and accruals, and ask to calculate gross earnings, net pay, amounts to charge to different accounts, and estimated liabilities. Details provided include regular and overtime hours worked, hourly rates, tax rates, and information on benefits like vacation pay and bonuses. Calculations require setting up and solving equations based on the hourly wage and overtime rules provided for each employee.

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    Assignment_Quiz

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    The document contains 8 assignments related to calculating earnings and payroll liabilities for various employees. The assignments provide information on hourly wages, overtime rates, taxes withheld, benefits contributions and accruals, and ask to calculate gross earnings, net pay, amounts to charge to different accounts, and estimated liabilities. Details provided include regular and overtime hours worked, hourly rates, tax rates, and information on benefits like vacation pay and bonuses. Calculations require setting up and solving equations based on the hourly wage and overtime rules provided for each employee.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    14K views5 pages

    Phil. Health Contributions

    Uploaded by

    hae1234
    The document contains 8 assignments related to calculating earnings and payroll liabilities for various employees. The assignments provide information on hourly wages, overtime rates, taxes withheld, benefits contributions and accruals, and ask to calculate gross earnings, net pay, amounts to charge to different accounts, and estimated liabilities. Details provided include regular and overtime hours worked, hourly rates, tax rates, and information on benefits like vacation pay and bonuses. Calculations require setting up and solving equations based on the hourly wage and overtime rules provided for each employee.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    Puno, Erika P.

    Assignment #1
    Jose Santos worked 46 hours in one week at a rate of P45 an hour. He is paid one and a half
    times the regular rate for hours worked in excess of P40.
    What is the gross earnings of Jose Santos?
    a. P2,205
    b. P2,070
    c. P2,340
    d. P1,800
    Solution:
    ( P 40 × P 45 )+ [ 6 ( 45 ) ( 1.5 ) ]

    = A. P2,205

    Assignment #2
    The data below pertains to the earnings of Pedro Castro for the week ended June 16
    Hours and rate 42 hours worked at P40 an hour
    Earnings to date P14
    Overtime rate One and a half times the regular rate for hours worked in
    excess of 40 hours
    Withholding tax 3% of gross earnings
    SSS contributions 2% of gross earnings
    Phil. Health contributions 1% of gross earnings
    Pag-Ibig contributions 1% of gross earnings
    What is the net pay for Pedro Castro for the week?
    a. P1,599.60
    b. P13,879.60
    c. P1,629.60
    d. P13,580
    Solution:

    Gross Earnings [ ( 40 )( 40 ) ]+[2 ( 40 ) ( 1.5 ) ] = P1,720

    W/tax P1,720*3% P51.60


    SSS P1,720*2% P34.40
    Phil.Health P1,720*1% P17.20
    Pag-IBIG P1,720*1% P17.20 P120.40
    Net Earning A. P1,599.60

    Assignment #3
    Mike G, a production employee is paid P180 per hour for a regular work of 40 hours.
    During the week ended March 23, Mike G worked 50 hours and earned time and a half for
    overtime hours.
    What is the amount that should be charged to Work in Process account if the overtime
    premium is charged to production worked on during the overtime hours?
    a. P9,000
    b. P9,900
    c. P8,900
    d. P9,500
    Solution:
    ( 40 × 180 )+ ¿
    = B. P9,900

    Assignment #4
    Using the same data in No. 3, what is the amount that should be charged to Work in Process
    account, if the overtime premium is charged to manufacturing overhead?
    a. P9,000
    b. P9,900
    c. P 8,900
    d. P 9,500
    Solution:
    P180 × 50 hours
    = A. P9,000

    Assignment #5
    Four factory workers and a supervisor make a team in the Machining Department. The
    supervisor earns P100 per hour, and the combined hourly charge of the four workers is
    P320. Each employee is entitled to a 2-week paid vacation and a bonus equal to 4 weeks’
    wages each year. Vacation pay and bonuses are treated as indirect costs and are accrued
    over the 50 week work year. A provision in the union contract does not allow these
    employees to work in excess of 40 hours per week.
    What is the amount to be charged to Manufacturing Overhead Control account?
    a. P1,344
    b. P2,016
    c. P20,000
    d. P6,720
    Solution:
    Supervisor P100/hour
    Employees P320/hour
    P420

    Vacation = 420 Bonus= 420 Manufacturing Overhead control


    × 80 ×160 33, 600
    33, 600 67, 200 + 67, 200
    ÷ 50 ÷ 50 P100, 800
    P672 P1, 344 ÷ 50
    B. P2,016

    Assignment #6
    Using the same data in no. 5, what is the estimated liability for bonus?
    a. P0
    b. P1,344
    c. P6,720
    d. P20,160
    Solution:
    Supervisor P100/hour
    Employees P320/hour
    P420

    420
    ×160
    67,200
    ÷ 50
    B. P1,344

    Assignment #7
    Using the same data in no. 5, what is the estimated liability for vacation pay?
    a. P0
    b. P20,160
    c. P1.344
    d. P720
    e. P672
    Solution:
    Supervisor P100/hour
    Employees P320/hour
    P420

    420
    × 80
    33,600
    ÷ 50
    E. P672
    Assignment #8
    The pay stub of Jing Guerrero, employee No. 106 who works on the production line,
    showed the following for a 2-week pay period:
    Gross earnings P4,560
    Income tax withheld 611.68
    SSS premiums withheld 342
    Phil. Health premiums withheld 112.16
    Pag-ibig premiums withheld 222
    Union dues 44
    Jing Guerrero works a regular 40 hours week and is paid P48 per hour regular time, and
    time and a half for overtime.
    She is also paid an additional P1,092.80 in benefits for the 2 week pay period with regard
    to the employer’s contribution to the company’s SSS and Phil. Health premiums.
    What is the amount to be charged to Work in Process for employee no. 106 for the 2-week
    period, assuming that any overtime work is not traceable to a particular Job order?
    a. P6,480
    b. P8,880
    c. P3,840
    d. P4,320
    Solution:
    P48
    ×80 hours
    C. ₱3, 840

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