Solution-Prepare a cost sheet showing cost of three jobs

Prepare a cost sheet showing cost of three jobs

Assignment Help Cost Accounting

Reference no: EM132567360

The following transactions relate to the Decent company for the month of June,2004.

Material purchased on account Rs.170,000
Material and labor used on jobs were as under.

Job No Direct material Direct labor

01 11,400 14,000

02 5000 7000

03 17,200 18,400

Indirect material issued to production Rs. 3800
Indirect Labor incurred Rs.500
Other factory overhead cost incurred Rs. 6850
Depreciation on Machinery Rs.3000
Factory overhead is applied at 80% of Direct labor.
Jobs No.1 and 2 were completed
Customers were billed both jobs at Rs.50,000 and Rs. 26,000 respectively.

INSTRUCTION:

Question 1: Prepare a cost sheet showing cost of three jobs

Question 2: Prepare General Journal entries together with closing of under or over applied FOH

Reference no: EM132567360

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Prepare a cost sheet showing cost of three jobs

Reference no: EM132567360

Reference no: EM132567360

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