An outfit producer had the following transactions in its first month of processes relating to its only job, Job #A 012.

a) Purchased 500 yards of silk @ Rs.8 per yard for cash.

b) Requisitioned 300 yards of silk to produce Job #A 012.

c) Incurred 50 hours of direct labor to produce Job #A 012; the average labor rate is Rs.9 per hour.

d) Paid various factory overhead costs, Rs.650.

e) Applied factory overhead at the rate of 145% of direct Material costs to Job #A 012.

f) Completed Job #A 012.

g) Sold Job #A 012, receiving cash of Rs.4, and 400.

Required:

1. Record the above transactions in journal and close the FOH A/C

2. Enter the transactions in the T-accounts below.

3. Determine the ending balance of each account.

4. What was the gross profit earned on Job #A 012