Jensen Ltd is a boatbuilding company. They manufacture boats to customer specifications, and accounts for production using job order costing. An extract from their trial balance as at 30 June 2013 showed the following: Material Control Work in Process Job 55 Finished Goods Job 65 Total Inventory 1 During July 2013 the following transactions occurred: Item 31,730 55,470 39,260 Raw material purchased on credit Factory wages incurred machine operators 49,320 Supervisors and store clerk 13,100 Invoice received for factory overhead expenses Factory noncurrent assets costing $530,000 are depreciated at 20% p.a. Raw materials and stores requisitioned to jobs: - Job 57 15,940 - Job 53 2 1,350 - Job 59 16,600 - Indirect 71,910 Analysis of time sheets for the machine operators Labour Hours Job 66 18 2,520 Job 67 11,200 Job 68 105 14,?00 Job 69 70 9,800 Job 70 34 4,760 Idle time M 9,820 - Invoice received for subcontracting cost on Job 68 = $5,600. I The factory overhead application rate is $160 per direct labour hour. 0 At 31 July, Job 70 was not completed and Job 69 was in the finished goods store. All other jobs were sold. Required a. Prepare a Job Card Cost Summary for July 2018 b. Record the above entries for July 2018 in the following ledger accounts: i. Material Control ii. Labour Control iii. Factory Overhead Control iv. Work in Process v. Finished Goods