3. Question 3 (20 marks) Cost and Management Accounting From the following information, you are...
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3. Question 3 (20 marks) Cost and Management Accounting From the following information, you are required to post to the ledger accounts and balance off the accounts of Lahore Company The following information relates to its production for the month ($): Raw material purchased on credit 20.000 Raw material issued to production 15,000 Raw material issued as indirect material 5,000 Direct labour charged to production 20,000 Indirect labour 5,000 Factory labour payroll incurred 20,000 (PAYG Tax 8,000) Factory rates paid 7.000 Depreciation on factory machinery 4,000 Factory overhead charged to production 10,000 Cost of goods sent to finished goods store 30,000 Goods sold on credit: Sales price 50,000 Cost price 30,000 Required: Complete the required journal entries. Account Dr Cr
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