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Problem 1
Among Us Corporation provided the following data:
No. of employees at the beginning of the month, 600
No. of employees at the end of the year, 640
No. of employees resigned, 40
No. of employees discharged, 10
No. of employees replaced, 20
Problem 2
Crewmates Company determined P284,200 payroll for the week consisting of P240,000 earned by
80 direct laborers and P44,200 earned by 20 indirect laborers. The total factory bonuses to be paid
at year-end is estimated at P980,000. All factory workers receive a 3-week vacation and 10 paid
holidays.
Required:
Prepare journal entries to (a) distribute the weekly payroll and to (b) accrue the bonus, vacation
and holiday pay.
Problem 3
Impostor Company's payroll register shows the following information for December:
Salary paid to marketing department, P40,000 (10 employees)
Wages paid to direct labor, P100,000
Insurance is fully paid by company, P10,000 per month
Impostor Company has a policy to award a fully paid one week vacation to best employee of the
year from marketing department with a bonus of P1,500
Required:
Assuming that current period has completed, prepare all necessary journal entries to record the
payroll on December 31st.
Problem 4:
Skeld Company has only 5 employees currently paid at a rate of P125/hour and a minimum
guaranteed salary of P1,000/day. The following today's production report is as follows:
Problem 5
Polus Restaurant Supply operates in two shifts, paying a late shift premium of 10 percent and an
overtime premium of 75 percent. The May 2013 payroll follows:
Total wages for 6,000 hours (including overtime and shift premiums) P540,000
Normal hourly employee wage P90
Total regular hours worked, split evenly between the shifts 5000
All overtime was worked by the early shift during May. Shift and overtime premiums are considered
part of overhead rather than direct labor.
Required:
· How many overtime hours were worked in May?
· How much of the total labor cost should be charged to direct labor? To overhead?
· What amount of overhead was for second-shift premiums? For overtime premiums?
Journal entries: Bonus Pay
WIP 450000
Factory overhead 90000
Cash 540000
Vacation pay
1500
4975
Factory overhead 375
5350