Problem 1: Accounting for Incurrence and Distribution of Payroll The general ledger of the JG Manufacturing Company showed these balances at the end of July: Factory labor of P480,000 which includes...

hand written solve Problem 3 with explanation i'll give multiple upvote

Extracted text: Problem 1: Accounting for Incurrence and Distribution of Payroll The general ledger of the JG Manufacturing Company showed these balances at the end of July: Factory labor of P480,000 which includes P288,000 of direct labor, P66,000 of indirect labor; sales salaries of P72,000; and office salaries of P54,000. The following rates are available for payroll distribution. Withholding Tax SSS Contributions Employees' Compensation Contributions Phil. Health Contributions PAG-IBIG Contributions 1% 10% 40% employee and 60% employer 2% employer only 2% 50% employee and 50% employer 3% 50% employee and 50% employer Required: Prepare: 1. The journal entry to record labor incurrence. 2. The journal entry to record labor distribution and the related employer's contribution. PROBLEM 2: ACCOUNTING FOR PAYROLL INCURRENCE AND DISTRIBUTION OF PAYROLL MD Company is preparing its monthly payroll for October. The following data apply to Jean Go, the chief accountant: a. Year to data, through September. b. Jean's October earnings were P18,000. Income tax to be withheld is P2,400. The following rates are available for payroll distribution. Withholding Tax SSS Contributions 1% Employees Compensation Contributions Phil. Health Contributions PAG-IBIG Contributions 10% 40% employee and 60% employer 2% employer only 2% 50% employee and 50% employer 3% 50% employee and 50% employer Required: 1. The journal entry to record labor incurrence for October. 2. The journal entry to record labor distribution and the related employer's contribution. PROBLEM 3: ACCOUNTING FOR OVERTIME PREMIUM Pablo Sy, an employee of the Pool Company is paid P200 per hour for a regular week for 40 hours. During the week ended November 14, the employee worked for 48 hours and earned time and a half (0.5) for overtime hours. Required: 1. Prepare the journal entry to record the labor cost if the overtime premium is charged to jobs worked on during the overtime hours.