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Question 34 2 pts Problem 7 The following are transactions of Robina Corporation for the month of February 2020. Provide the corresponding journal entries for
Question 34 2 pts Problem 7 The following are transactions of Robina Corporation for the month of February 2020. Provide the corresponding journal entries for each transaction: 1. Purchase of materials (direct and indirect), on credit, P1.020,000 2. Usage of raw materials P550,000 (20% are indirect materials 3. Manufacturing payroll for the month: Gross amount of 450.000 Direct labor. P120.000 of which for SSS and other government Dayable, and gross amount of indirect labor P180,000, P45,000 of which for $55 and government payable. Net salary pold in cash 4. Other manufacturing overhead costs incurred during the month P200,000, consisting of Janitorial salaties paid in cash P65,000 paid in cash plant utilities, repairs, supervisory salaries P150,000 paid in cash plan depreciation P100,000 5. Allocation of enoufactures overhead to se predateed OHS P12machine haurial machine hour to the monti 50.000 hours 6. Completion and transfer of individual jobs to iedod PE 555.000 7. Cost of goods sold PBB0.000 Bareng costs for February 145.000 and customer cancelar February 255.000, pod in cau 9. Socredit. P28470.000 The Tallows provided supervisory salaries, P150,000 paid in cash plant depreciation, P100.000 5. Allocation of manufacturing overhead to jobs using predetermined OH rate of P12/machine hour. Actual machine hour for the month is 50,000 hours 6. Completion and transfer of individual jobs to finished goods, P1, 555.000 7. Cost of goods sold, P880,000 8. Marketing costs for February, P145.000 and customer service costs for February P515.000. paid in cash 9. Sales, ali on credit, P2.270.000 The following are also provided: Tax rate -32% Interest expenses P120,000 Beginning Inventories. Raw materials, P610.000. Work in process. P1.065.000. Finished Goods P2,000,000 Units manufactured for the period - 100.000 units The entry to record transaction number 6 will include Debido FG of 1.000.000 Cidlo WIP of 155000 Det WIP 55.000 Credito Vio
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