8.4 Job cards, journal entries Aztec Enterprises operates a job cost systam and provides you with the tollowing details relating to December Inventories, 1 Decembar Finished goods 600 15 00 Work in process 18 000 Transactions for the month of December Raw material and supplies purchased on credit (includes GST $6 200 Raw materials and supplies ssued 68 200 Job 60 59 300 Supples Time sheet summary used for payroll calculations 3 000 Job 61 Job 62 33 000 51 000 43 560 Indirect Other tactory overheads paid (includes GST of S3 960 Factory overhead application tate was . 100%died labour cost * s were charged out to oust mers at oost plus 20 s still in process at the end of December. Job no. 62 was finished but not delivered unti January Using the information provided (a) Prepare a job cand cost summary for December b) Prepare journal entries to record the transactions for December c) Show ledger accounts for material contol, labour control, factory overhead control, work in process and finished goods 8.5 Job cards, journal and ledger entries, trading stetement Wong Song Ltd operates a job oeder type of manufacturing process and provides you with the following information for the month of May Inventories-1 May Firished goods (Job 56) Work in process Transactions for May included 6 350 Materials purchased on credit (includes GST $245) 2 695 Cleaning materials ssued Supervision incurred idle time incuned Depreciaton provided Other expenses paid (Iincludes GST $350 1 600 1 200 Actual factory wages paid 6000 Costs incurred Direct material Direct labour 1000 1 200 Overhead is appled topes at 140% of drect labor cost Work was completed on jobs 57,58 and 5 Jobs 56 and 57 were sold at Cosl plus 50% * a) Prepare a job cand cost summary b) Show the journal entries to record the transactions for May Prepare ledger accounts for material contol, labour control, factory overhead control, work in process and fnished goods. d) Prepare a trading statement for May showing the gross proft on each job sold