Hi, I'm from the Philippines. Out topic is Accounting for Manufacturing Business. Can you help me with the accounting entries to be used in the following transactions? e. Costs of salaries and wages incurred and unpaid are as follows:400,000180,000Direct laborIndirect laborSales commissions104,000Administrative salaries250,000f. Prepaid insurance expired during the year, P30,000 (80% relates to factory operations,10% to selling, and 10% to administrative activities).g. Accrued miscellaneous selling and administrative expenses, P10,000 and P8,000respectively.h. Manufacturing overhead was applied to production. The company applies overhead onthe basis of 150% of direct labor cost.i. Goods costing P1,400,000 to manufacture were transferred to the finished goodswarehouse.

Name: Hi, I'm from the Philippines. Out topic is Accounting for Manufacturin
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Description: Hi, I'm from the Philippines. Out topic is Accounting for Manufacturing Business. Can you help me with the accounting entries to be used in the following transactions? e. Costs of salaries and wages incurred and unpaid are as follows:400,000180,000Di

SNo. Particulars Debit (P) Credit (P) 1 Wages A/c To Wages Payable A/c (Being Direct and…

Answered: Hi, I'm from the Philippines. Out topic…

Business

Accounting

Hi, I'm from the Philippines. Out topic is Accounting for Manufacturing Business. Can you help me with the accounting entries to be used in the following transactions?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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