The following data relates to M/s. Zubair Co. for the month of August 2018 (...
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The following data relates to M/s. Zubair Co. for the month of August 2018 ( who maintains Job Order Cost System ). DATA a) Material purchased on account Rs. 145,000 b) Material requisitioned and Factorv Labour used c) Factory overhead cost incurred on account Rs. 70,800 d) Depreciation of Machinery Rs. 10,000 e) The Factory overhead rate is 110% of direct labour cost. f) Job completed: No. 201, 203, 204 and 206. g) Job No. 201, 203 and 204 were shipped and customers were billed for Rs. 104,000, Rs. 105,000 and Rs. 106,000 . REQUIRED i) Pass necessary journal entries to record the information summarized above. ii) Prepare Accounts in Ledger of the Company for the Accounts, Work-in-Process and Finished Goods
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The following data relates to M/s. Zubair Co. for the month of August 2018 ( who maintains Job Order Cost System ). DATA a) Material purchased on account Rs. 145,000 b) Material requisitioned and Factorv Labour used c) Factory overhead cost incurred on account Rs. 70,800 d) Depreciation of Machinery Rs. 10,000 e) The Factory overhead rate is 110% of direct labour cost. f) Job completed: No. 201, 203, 204 and 206. g) Job No. 201, 203 and 204 were shipped and customers were billed for Rs. 104,000, Rs. 105,000 and Rs. 106,000 . REQUIRED i) Pass necessary journal entries to record the information summarized above. ii) Prepare Accounts in Ledger of the Company for the Accounts, Work-in-Process and Finished Goods 