Cardo reported the following for the taxable year: Basic salary 900,000; supplemental compensation 150,000; mandatory contributions (SSS, etc) 35,000; Rice allowance 35,000; Uniform allowance 10,000; 13th month pay 85,000.

Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter3: Accounting For Labor
Section: Chapter Questions
Problem 7E: Davis, Inc. paid wages to its employees during the year as follows: a. How much of the total payroll...
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Cardo reported the following for the taxable year: Basic salary 900,000; supplemental compensation 150,000; mandatory contributions (SSS, etc) 35,000; Rice allowance 35,000; Uniform allowance 10,000; 13th month pay 85,000.

  • How much is the total REGULAR COMPENSATION?
900,000
 
1,050,000
 
1,135,000
 
  • How much is the total NON-TAXABLE DE MINIMIS benefits (within the ceiling amount)?
45,000
 
30,000
 
zero
 
  • How much is the total TAXABLE COMPENSATION?
1,060,000
 
1,025,000
 
1,015,000
 
Please provide just basic computation. Thank youuu!
 
 
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