following job order cost sheets were prepared for three jobs that were in production during January:

Job 97Job 98Job 99

Materials.............................................Rs 60,000Rs30,000Rs40,000

Labor.................................................120,00070,00080,000

Applied factory overhead.........................60,00035,00040,000

Gross profit margin.................................60,000

On January 1, Job 97 was 40 % complete as to materials, labor, and factory overhead and was completed and sold on account during the month. Job 98 was started and completed during January but was not sold, and Job 99 was started but not completed during the month.

Required: Prepare the Journal entries for January to record job costs in Work in Process and Finished Goods and to record the sale Show subsidia