Question 36 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 payable, and gross amount of indirect labor. P180,000, P45,000 or which for 555 and government payable. Net salary paid in cash 4. Other manufacturing overhead costs incurred during the month P200,000consisting of janitorial salaries, paid in cash P65,000 paid in cash for plant utilities, repairs supervisory salaries, P150,000 paid in cash plant depreciation. P100,000 5 Allocation of manufacturing overhead to jubs usine predetermined OHP12/machine hour. Actual machine for the month is 50,000 hours 8. Completion and transfer of individual jobs to finished goods P1.555.000 7 Cool soods sold P880.000 8 Marketing costs for February, P145,000 and customer service costs for February 515.000 paid inch 9 Sales, all of crediti P2 270.000 incurred during the month lary puid in cash. P200,000, consisting of Janitorial salaries, paid in cash P65,000 paid in cash for plant utilities, repairs, 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, all on credit. P2.270.000 The following are also provided Tax rate - 3296 Interest expenses P120,000 Beginning Inventories: Raw materials. Pe 10.000. Work in process. P1,065,000. Finished Goods, P2,000,000 Units manufactured for the periode 100.000 units How much is the Net Income