Question
The following information pertains to August operations: 1. Materials purchased on account, P35,000. 2. Materials issued for production, P25,000. Of this amount, P4,000 was
The following information pertains to August operations: 1. Materials purchased on account, P35,000. 2. Materials issued for production, P25,000. Of this amount, P4,000 was for indirect materials; the difference was distributed: P5,000 to Job 401; P7,000 to Job 402; and P9,000 to Job 403. 3. Materials returned to the warehouse from the factory, P1,000, of which P400 was for indirect materials, the balance from Job 403. 4. Materials returned to vendors, P2,000. 5. Payroll after deducting P3,000 for withholding taxes, P2,000 for SSS Premiums, P500 for Philhealth, and P1,500 for Pag-ibig, was P33,000. The payroll due the employees was paid during the month.
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