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Salary Allocation Table and Social Insurance

Table 15:

TIME SHEET

July 2013

Department: Go Group 1 - Mechanical Repair Workshop



STT


Full name


Position

Day of the month

Convert to work


Total work


1


2


3


…


31


Salary Sp Benefit Number


Time wage rate

Number of days off work still enjoy 100%

wage

Number of workers off work, salary

…%

1

Truong Tat

Sea

NV

+

+

+

…

+


24



24

2

Nguyen Quang

Hoang

NV

+

+

+

…

+


26



26

3

Huynh The My

NV

+

+

+

…

+


21



21

4

Le Van Tuan

CN

C1

C1

C1

…

C3

23




23

5

Truong Van

Courage

CN

C1

C1

C1

…

C3

26




26

6

Le Van Tai

CN

C1

C1

C1

…

C3

26




26

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Salary Allocation Table and Social Insurance


Table 16: PRODUCT WAGE PAYMENT TABLE

July 2013

Department: Go Group 1 - Mechanical Repair Workshop

Unit: VND


STT

Full name

Coefficient

Product salary

Total amount

T/Coefficient

Number of hours


Hill 1

4.25

821.20

1,168

11,736,000

1

Truong Tat Hai

1

192

192

2,744,000

2

Nguyen Quang Hoang

0.8

166.5

208

2,378,000

3

Huynh The My

0.75

126

168

1,801,000

4

Le Van Tuan

0.7

128.8

184

1,841,000

5

Truong Van Dung

0.5

104

208

1,486,000

6

Le Van Tai

0.5

104

208

1,486,000

The company does not deduct health insurance premiums but includes them in the social insurance premiums. Specifically:

- Account 3382: Trade union fee = Total actual salary x 2% Accounting records:

Debit account 622, 627, 641, 642

Have account 3382

- Account 3383: Social insurance = Total actual salary x 30.5% In which: 21% is included in cost price

9.5% for employees

Accounting: Debit account 622, 627, 642, 642

Have account 3383

Debit account 334

Have account 3383

In July 2013, the actual salary paid to workers directly producing products was recorded by the accountant:

Debit account 622: 124,801,500 VND

Credit account 334: 124,801,500 VND

Every month, based on the salary fund, the accountant makes deductions for social insurance and union contributions. Specifically, the accountant makes deductions as follows:

Debit account 622: 39,015,365 VND

Credit account 338: 39,015,365 VND

Based on that, the accountant makes provisions and makes a monthly salary and social insurance allocation table.

At the end of the month, after collecting direct labor costs, the accountant transfers them to account 154 to calculate product cost:

Debit account 154: 163,816,865 VND

Credit account 622: 163,816,865 VND.


Table 17: SALARY AND SOCIAL INSURANCE ALLOCATION TABLE

July 2013

Unit: VND



No.


Account 334

Account 338


Total 338


Account 335


Total


Wage

The items

allowance

The items

other


Total is 334


KPCĐ


Social insurance


1


622


124,801,500




124,801,500


2,496,030


36,519,335


39,015,365



163,816,865


2


627


22,958,400




22,958,400


459,168


7,610,400


8.069568



31,027,968


3


641


7,342,400




7,342,400


146,848


3,139,920


3,286,768



10,629,168

4

642

34,897,700



34,897,700

697,954

13,940,010

14,637,964


49,535,664


Total


190,000,000




190,000,000


3,800,000


61,209,665


65,009,665



255,009,665


Details of salary allocation table for the department directly producing products:

Table 18: SALARY ALLOCATION DETAILS


July 2013

Unit: VND


Number

TT

Vehicle make, vehicle number

Mechanical repair shop

Body shop

Mattress painting workshop

Total

Time(h)

Total amount

Time(h)

Total amount

Time(h)

Total amount

(h)

Total amount


OVERHAUL VEHICLE









1

74B 0856

111

1,587,300





111

1,587,300

2

75K 3698

10

143,000





10

143,000

3

75H 01386

4

57,200



13

185,900

17

243,000

…

…

…

…








CAR 29CN-2012









1

K29S No. 10



29

414,700

37

529,100

66

943,800

2

K29S No. 25

19

271,700

57

815.100

77

1.101.100

153

2,187,900

…

…

…

…







6

K29S No. 1/2013

165

2,359,500

276

3,946,800



441

6,306,300

7

K29S No. 2/2013

165

2,359,500

222

3,174,600



387

5,534,100

8

KS29 No. 3/2013

165

2,359,500

222

3,174,600



387

5,534,100

…

…

…

…








Total

3,508

50,164,400

3,656

52,286,200

1,563

22,350,900

8,727

124,801,500

After collecting and making allocation tables, the accountant summarizes the costs on table number 4.

Table 19: TABLE NO. 4

DIRECT LABOR COST SET

July 2013

Unit: VND


Credit account

Debit account

Account 334

Account 3382

Account 3383

Total

Mechanical repair shop

50,164,400

1,003,288

14,798,498

65,966,186

Body shop

52,286,200

1,045,724

15,424,429

68,756,353

Paint shop

mattress

22,350,900

447,018

6,296,408

29,094,326

Total

124,801,500

2,496,030

36,519,335

163,816,865


Based on Table No. 4, at the end of the month, the accountant records it in NKCT No. 7. (Table 9).

+ After completing the recording of related NKCT, the accountant will post it to Ledger 622.

Table 20: Ledger

LEDGER

Account 622

July 2013

Beginning balance


Unit: VND

In debt

Have

Credit the accounts

Corresponding Debit of this account

Month

1

Month

…….

Month

7

Month

…….

Month

12

Total

Voucher journal number 7 (account 334 + account 338)

Add the debt generated

Add the generated number Yes



163,816,865


163,816,865

163,816,865



163,816,865


163,816,865

163,816,865

End of month balance

In debt







Have








Bookkeeper: (Signature, full name)


Chief Accountant: (Signature, full name)

July 31, 2013

Manager:

(Signature, full name, seal)

Diagram 2.2.2: Diagram of direct labor cost accounting.

Unit: VND


Account 334 Account 622 Account 154

124,801,500


163,816,865

Account 338

39,015,065


2.2.3. General manufacturing cost accounting

General production costs at Thong Nhat Thua Thien Hue Mechanical Joint Stock Company include shared costs for workshop operations, indirectly serving product manufacturing activities, including:

Workshop staff costs : are salary costs and salary deductions, allowances for management staff, etc.

Material costs : include raw materials that do not directly participate in product manufacturing but are used in workshop management or other activities .

Cost of tools and equipment : used for general production in the company's workshops, including: Cost of equipment for repairing fixed assets in the workshop, cost of circuit breakers, fuses... also includes cheap items such as light bulbs, screwed tables, protectors, safety ropes. When these tools and equipment arise, they are included in the general production cost and do not need to be allocated to 142.

Fixed asset depreciation costs : are included in general production costs, which is the monthly depreciation of fixed assets used for production and management.

Outsourced service costs : are the costs of electricity and water used by both the management department and the production department .

Other cash expenses : are the costs of purchasing additional tools such as brooms, gasoline, etc.

2.2.3.1. Documents and books used:

The company uses the following documents: +Warehouse delivery note

+ Fixed asset depreciation table

+ Payment voucher

+ Salary payment table

+ Allocation table number 2

+ Table 3, 4

+ NKCT number 5, number 7

+ Ledger 627

2.2.3.2. User account

To facilitate cost management and accounting, accountants use:

+ Account 627: General production costs. This account is opened for level II accounts:

- 6271: Workshop staff costs

- 6272: Material costs

- 6273: Production tool costs

- 6274: Fixed assets cost

- 6277: External service costs

- 6278: Other cash expenses

2.2.3.3. Document circulation process

The economic transactions arising at the workshop in July 2013 are as follows:

 On July 9, 2013, issued tools and equipment (one-time allocation) for workshop management activities. Warehouse price: VND 2,834,200 according to warehouse delivery note No. 346 dated July 9, 2013.

Based on warehouse delivery note No. 346, dated July 9, 2013 (Export note form as shown in table)

07), accountant records:

Debit account 6273: 2,834,200 VND

Credit account 153: 2,834,200 VND

 On July 13, 2013, raw materials worth VND 2,775,106 were issued to repair and maintain fixed assets of the production workshop according to export voucher 347 dated July 13, 2013.

Based on PXK No. 347, dated July 13, 2013 (PXK form as in table 07), accountant

provision:

Debit account 6272: 2,775,106 VND Credit account 152: 2,775,106 VND

 On July 20, 2013, purchased fuel from Thua Thien Hue Petroleum Company, and used it directly for activities in the production workshop. Total payment price

According to Contract 002167 is 1,509,200 VND, VAT 10%. The Company has paid for

seller in cash according to payment order number 231.

Based on Contract 002167, dated July 20, 2013, the accountant made the following entries: Debit account 6278: VND 1,372,000

Debit account 133: 137,200 VND

Credit account 111: 1,509,200 VND

 On July 30, 2013, received the electricity bill payable to Electricity Company 3, the total payment according to Contract No. 0103084 dated July 30, 2013 is 33,360,000 VND, VAT 10%.

In which electricity cost for production workshop: 17,050,000 VND.

On the same day, also received a water bill with the total payment according to Contract No. 0103457 dated July 30, 2013 being 3,591,588 VND, VAT 10%. This expense is allocated to the production workshop at 2,750,000 VND.

The company has not paid the supplier.

Based on Contracts 0103084 and 0103457 dated July 30, 2013, the accountant determines

Item:

Debit account 6277: 18,000,000 VND

Debit account 133: 1,800,000

Credit account 331: 19,800,000 VND

 Fixed asset depreciation costs.

 Collect salary data and deductions from the factory management department

The process of circulating accounting documents for general production costs of the company is shown in the following diagram:

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