10:43 Question 2 Al Yaqoobis Power tools (SAOG) uses the process costing system. The following data, taken from the organisation's book reflects the results of manufacturing operations during the month of September 2021 in its only department machining: Production Costs Work in progress, beginning of period Materials 5200 Labour 4600 Factory Overhead 2000 11.800 Costs during the month: Materials 20000 Labour 2000 Factory Overhead 12000 47.000 Total SRO Production Report Finished and transferred to stockroom during the month 19000 Units Work-in-progress, end of period, 4000 units, and one-fourth completed Dequired T 2021. (5 marks) Question 3 Study the performance report for Ali cafe World-Ibriand write a brief explanation of the strength and weaknesses of the operations of the cafe of November and year to-date operations NYEWE PERFORMANCE REPORT No1 Bered Vre WS 135 000 Ses 180 1430 To 19 24 130 1 Question i .b) Mesi manufacturing company manufactures engines that are made only on customer's orders and their specifications. During January, the company worked on jobs 2525 2526,2527.2528. The following figures summarise the cost records for the month: 2525 2538 253735 1300 Det er 40.000 1.000 10.00 2006 2.000 Datta ar) May 64.000,00 0.0000000000000 3.000 21.00 wat 1000 2100 Engine 10 Jobs 2525 and 2526 have been completed and delivered to the customers at a total selling price of OMR852,000,on account. Job 2527 is finished but has not yet been delivered. Job 2528 is still in process. There was no work in progress at the beginning of the month Required: 1. Prepare the summary journal entries for the month to record the distribution of materials, labour and overhead costs 2. Prepare a summary showing the total cost of cach job completed during the month or in process at the end of the month. Also. Determine the cost of inventories of completed engines and engines in process at the end of the month 3. Prepare the journal entries to record the completion of the jobs and the sale of the jobs. 4. Prepare a statement of cost of yoods manufactured. Assignment Question(s) (Allotted Marks: 15/15) Question 1.a). Discuss on what is job costing, its features advantages and disadvantages in relation to a business of your choice. Describe the procedure for recording and computing costs under job costing. Develop a pro-forma cost sheet for it. Question i .b) Mesi manufacturing company manufactures engines that are made only on customer's orders and their specifications. During January, the company worked on jobs 2525,2526,2527,2528. The following figures summarise the cost records for the month: Job 2525 Job 2526 Job2527 Jeb 2528 (200 units) (120 units)(50 Units) (200 units) Direct material put into process July 2: 30,000 10,000 18 40,000 32,000 10,000 22: 30,000 2.000 20.000 12.000 28; 7,000 4000 Direct Labour Costweek ending) July 2: 2,000 2.000 9. 54,000 18.000 16: 64,000 54.000 23: 40,000 6,000 10.000 1000 30; 36.000 23,000 Factory overhead: 120,000 64,000 35,000 21.000 Engines Completed 100 60 25 Jobs 2525 and 2526 have been completed and delivered to the customers at a total selling price of OMR852,000,on account. Job 2527 is finished but has not yet been delivered. Job 2528 is still in process. There was no work in progress at the beginning of the month. Required: 1. Prepare the summary journal entries for the month to record the distribution of materials, labour and overhead costs. 2. Prepare a summary showing the total cost of each job completed during the month or in process at the end of the month. Also. Determine the cost of inventories of completed engines and engines in process at the end of the month. 3. Prepare the journal entries to record the completion of the jobs and the sale of the jobs. 4. Prepare a statement of cost of goods manufactured. Question 2 Al Yaqoobis Power tools (SAOG) uses the process costing system. The following data, taken from the organisation's book, reflects the results of manufacturing operations during the month of September 2021 in its only department machining; Production Costs Work in progress, beginning of period: Materials 5200 Labour 4600 Factory Overhead 2000 11,800 Costs during the month: Materials 20000 Labour 2000 Factory Overhead 12000 47,000 Total 58,800 Production Report Finished and transferred to stockroom during the month 19000 Units Work-in-progress, end of period, 4000 units, and one-fourth completed Required Prepare a Cost of production Summary for September 2021. Question 3 Study the performance report for Ali caf World- Ibri and write a brief explanation of the strength and weaknesses of the operations of the caf of November and year-to-date operations. Ali's cafe World -Ibri PERFORMANCE REPORT November 30,2021 Budgeted Actual Variance Expense November Year-to-date November Year-to-date November Year-to-date Kitchen Wages 5500 47000 5200 46100 300F F Food 17700 15530018300157600 600U 2,300 U Supplies 3300 27900 3700 29100 4000 1,200 Utilities 1850 15350 1730 16200 120 FI 850 Jul Total 2835024555028930249000 580 3450 U F Favourable, U-Unfavourable 900 10:43 Question 2 Al Yaqoobis Power tools (SAOG) uses the process costing system. The following data, taken from the organisation's book reflects the results of manufacturing operations during the month of September 2021 in its only department machining: Production Costs Work in progress, beginning of period Materials 5200 Labour 4600 Factory Overhead 2000 11.800 Costs during the month: Materials 20000 Labour 2000 Factory Overhead 12000 47.000 Total SRO Production Report Finished and transferred to stockroom during the month 19000 Units Work-in-progress, end of period, 4000 units, and one-fourth completed Dequired T 2021. (5 marks) Question 3 Study the performance report for Ali cafe World-Ibriand write a brief explanation of the strength and weaknesses of the operations of the cafe of November and year to-date operations NYEWE PERFORMANCE REPORT No1 Bered Vre WS 135 000 Ses 180 1430 To 19 24 130 1 Question i .b) Mesi manufacturing company manufactures engines that are made only on customer's orders and their specifications. During January, the company worked on jobs 2525 2526,2527.2528. The following figures summarise the cost records for the month: 2525 2538 253735 1300 Det er 40.000 1.000 10.00 2006 2.000 Datta ar) May 64.000,00 0.0000000000000 3.000 21.00 wat 1000 2100 Engine 10 Jobs 2525 and 2526 have been completed and delivered to the customers at a total selling price of OMR852,000,on account. Job 2527 is finished but has not yet been delivered. Job 2528 is still in process. There was no work in progress at the beginning of the month Required: 1. Prepare the summary journal entries for the month to record the distribution of materials, labour and overhead costs 2. Prepare a summary showing the total cost of cach job completed during the month or in process at the end of the month. Also. Determine the cost of inventories of completed engines and engines in process at the end of the month 3. Prepare the journal entries to record the completion of the jobs and the sale of the jobs. 4. Prepare a statement of cost of yoods manufactured. Assignment Question(s) (Allotted Marks: 15/15) Question 1.a). Discuss on what is job costing, its features advantages and disadvantages in relation to a business of your choice. Describe the procedure for recording and computing costs under job costing. Develop a pro-forma cost sheet for it. Question i .b) Mesi manufacturing company manufactures engines that are made only on customer's orders and their specifications. During January, the company worked on jobs 2525,2526,2527,2528. The following figures summarise the cost records for the month: Job 2525 Job 2526 Job2527 Jeb 2528 (200 units) (120 units)(50 Units) (200 units) Direct material put into process July 2: 30,000 10,000 18 40,000 32,000 10,000 22: 30,000 2.000 20.000 12.000 28; 7,000 4000 Direct Labour Costweek ending) July 2: 2,000 2.000 9. 54,000 18.000 16: 64,000 54.000 23: 40,000 6,000 10.000 1000 30; 36.000 23,000 Factory overhead: 120,000 64,000 35,000 21.000 Engines Completed 100 60 25 Jobs 2525 and 2526 have been completed and delivered to the customers at a total selling price of OMR852,000,on account. Job 2527 is finished but has not yet been delivered. Job 2528 is still in process. There was no work in progress at the beginning of the month. Required: 1. Prepare the summary journal entries for the month to record the distribution of materials, labour and overhead costs. 2. Prepare a summary showing the total cost of each job completed during the month or in process at the end of the month. Also. Determine the cost of inventories of completed engines and engines in process at the end of the month. 3. Prepare the journal entries to record the completion of the jobs and the sale of the jobs. 4. Prepare a statement of cost of goods manufactured. Question 2 Al Yaqoobis Power tools (SAOG) uses the process costing system. The following data, taken from the organisation's book, reflects the results of manufacturing operations during the month of September 2021 in its only department machining; Production Costs Work in progress, beginning of period: Materials 5200 Labour 4600 Factory Overhead 2000 11,800 Costs during the month: Materials 20000 Labour 2000 Factory Overhead 12000 47,000 Total 58,800 Production Report Finished and transferred to stockroom during the month 19000 Units Work-in-progress, end of period, 4000 units, and one-fourth completed Required Prepare a Cost of production Summary for September 2021. Question 3 Study the performance report for Ali caf World- Ibri and write a brief explanation of the strength and weaknesses of the operations of the caf of November and year-to-date operations. Ali's cafe World -Ibri PERFORMANCE REPORT November 30,2021 Budgeted Actual Variance Expense November Year-to-date November Year-to-date November Year-to-date Kitchen Wages 5500 47000 5200 46100 300F F Food 17700 15530018300157600 600U 2,300 U Supplies 3300 27900 3700 29100 4000 1,200 Utilities 1850 15350 1730 16200 120 FI 850 Jul Total 2835024555028930249000 580 3450 U F Favourable, U-Unfavourable 900