CAPE, JESSIELYN VEA C.

PCBET-01-301P
AC9/ THURSDAY/ 9:00AM-12:00PM
CHAPTER 5

Multiple Choice- Theoretical

1. C
2. B
3. A
4. A
5. A
6. A
7. A
8. A
9. D
10. A

Multiple Choice- Computational

1. A

Regular pay (46 hours x P45) P2,070

Overtime Pay (6 hours x P22.50) 135

Gross earnings P2,205

2. A
Regular pay (42 hours x P40) P1,680
Overtime pay (2 hours x P20) 40
Gross earnings P1,720
Deductions:
Withholding tax (3%) P51.60
SSS contribution (2%) 34.40
Phil. Health contribution (1%) 17.20
Pag-ibig contribution (1%) 17.20 120.40
Net Pay P1,599.60

3. B
Regular pay (50 hours x P180) P9,000
Overtime pay (10 hours x P90) 900
Charge to work in process P9,900
 4. A
Regular pay, charge to work in process P9,000

5. B
Bonus pay [(P100 + P320) x 40 hrs x 4 weeks] /50 = P1,344
Vacation pay [(P100 + P320) x 40 hrs x 2)] /50 = 672
Total charge to manufacturing overhead control P2,016

6. B. P1,344

7. D. P672

8. D
Gross earnings P4,560
Less: Regular pay (80 hrs x P48) 3,840
Overtime pay 720
Divided by overtime rate (P48 x 150%) 72
Overtime hours 10

Regular pay (80 +10) x P46 = P4,320

9. D
Benefits P1,092.80
Overtime premium (P4,560 – P4,320) 240.00
Charged to Manufacturing Overhead Control P1,332.80

10. B
Bonus (P14,904/ 11.5mos) P1,296
Vacation [(P14,904 x ½) / 11.5mos] 648
Pension (2,070/ 12) 180
Total monthly liability P2,124

11. C. 7 hours x P20 = P140

CAPE, JESSIELYN VEA C. PCBET-01-301P COST ACCOUNTING