Overtime pay are payments given for extra hours worked. Other benefits include bouses, cost of living allowances, commutable transportation and representation allowances, food, housing, commissions paid to salaries employees, separation, retirement, terminal pay, gratuities, etc. Number of hours actually worked by production workers refers to the number of hours actually spent by production workers at work, including waiting time and overtime. It excludes time paid for but not spent in work for the establishment such as sick leave and paid vacation leave. Revenue includes cash received and receivables for goods sold and services rendered.
Cost refers to all expenses incurred during the year whether paid or payable.
Valuation should be at market prices including taxes and other charges, net of rebates, returns and allowances. Goods and services received by the establishment from another establishment of the same enterprise are valued as though purchased. Indirect taxes refers to all taxes, other than income tax, incidental to the production or sale of goods and services which are chargeable as expenses including business license, BIR stamps, real estate tax and other lcoal taxes. Subsidies are all special grants in the form of financial assistance or tax exemption or tax privilege given by the government to aid and develop an industry or production and to protect it against competition. Included are land, buildings, furnitures, fixtures, tools, office devices, vehicles and others.