LECTUREE FACTORY JOB The Rathi Engineering company manufactures special purpose small machines to order. In the beginning of the year, there were two jobs in the process, namely job no. 100 and job no. 101. The following cocts were applied to these jobs in the previous year Job 101 Job 100 Rs 40.000 Direct matenals Rs 25.000 15,000 Direct labour 20,000 16,650 22,200 Overhead 71.650 67,200 During January of the current year, the following transactions took place. 1. Raw material costing Rs 2.00.000 were purchased on account. 2. Supplies costing Rs 40.000 were purchased for cash. 3. Jobs 102 103 and 104 were started and the following costs applied to them Job 102 Job 103 Job 104 Direct materials (Rs) 15.000 50.000 35.000 Direct labour (Rs) 25.000 30.000 20,000 4. Job 100 and 101 were completed additional direct labour cost incurred on them were Rs 10.000 and Rs 20.000 were respectively. 5. Wages paid to production employees during January totalled Rs 1.25.000, of which accrued wages for the previous year were Rs 25.000 wages payable at the end of the current month were Rs 20,000 6. Depreciation for the month totalled Rs 50.000. 7. Utilities bills totalling Rs 60.000 were received for the January operations 8. Supplies costing Rs 10.000 were used. 9. Miscellaneous overhead expenses totalled Rs 12.000 for January 10. Actual overhead is applied for individual jobs at the end of each month using a rate based on actual direct labour costs. You are required to (A) Determine the overhead rate for the month of January (B) Pass the necessary journal entries for cach of the transactions that took place during January ) Determine the amount of profit cured on Jobs 100 and 101, assuming jobs prices of RS 1.10.000 and Rs 1.70,000 respectively. (E) Prepare a statement of cost of goods mmufactured