Exercise Drill No. 4 An employee received the following benefits: 13th month pay P 60,000 Profit sharing 12, 000 De minimis benefits: De minimis benefits within their limits 80, 000 Excess de minimis benefits 30, 000 Other de minimis benefits 10, 000 Other fringe benefits 25, 000 Total incentives P 182, 000 Required: Compute the taxable "13th month pay and other benefits" assuming the employee is a: 1. Rank and file employee 2. Managerial or supervisory employee Exercise Drill No. 5 An employee with 10 dependent children received the following benefits during the year: Regular compensation P 1, 068, 000 Supplementary compensation 340, 000 13th month pay 89, 000 Other fringe benefits 13, 000 Required: Compute the taxable amount in each of the following taxation schemes : Progressive Fringe Employee type tax benefit tax 1. Rank and file employee 2 . Managerial or supervisory employee Exercise Drill No. 6 The following relates to the compensation income of a minimum wage earner employee: Compensation and overtime pay (January to April) P 48, 000 Compensation and overtime pay (May to December ) 97,000 13th month pay and other benefits in December 15, 000 Required: Compute the gross taxable compensation income assuming the employee became a: 1. Minimum wage earner starting May I 2. Regular employee by promotion starting May