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QUESTIONS (32 marks: 57.6 minutes) 103 Field Workshop is located in Blatland has been tasked with repairing all Band D vehicles for the military units in the Durban area. They use a job order costing system. During the month of May, the following transactions occurred: Purchased materials on account for R296 700 Requisitioned materials totalling R245 000 for use in production of the total, R92000/ was for lob 58, R89 000 for Job 59, and the remainder for Job 60 Incurred direct labour for the month of R324 000, with an average wage of R180 per hour, Job 58 used 800 hours: Job 59, 600 hours; and Job 60,400 hours Incurred and paid actual overhead of R178 800 (credit Various Payables Charged overhead to production at the rate of R48 per direct labour hour Completed and transferred Jobs 58 and 59 to Finished Goods Sold Job 57 (see beginning balance of Finished Goods) and Job 58 to their respective clients on account for a price of cost plus 40% 16 Beginning balances as of 1 May 2018 were: Materials R23 000 Work-in-process Finished Goods (Job 57) R256 000 SO 1080 Required: 200 5.1 Prepare the journal entries for transactions a through 5.2 Prepare t-accounts for Raw materials a. b. Work-in-process c. Finished goods 5.3 Calculate the overhead variance and interpret it. Storus srucoli 600x68 28500 400 x 48 16200 S6400