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Please help me complete this in a written form as well as explainations Step by Step throughly. Thanks Practice Questions PQ - 1: Marry land
Please help me complete this in a written form as well as explainations Step by Step throughly. Thanks
Practice Questions PQ - 1: Marry land Company uses a Job order cost accounting system. The following information was provided for the month of March 2006. a). Purchases of direct material during the month amounted to Rs. 70,900 on account. b]. Material requisitions issued by the production department during month total to Rs. 60,300. c]. Time cards of direct workers shows the total labour cost of Rs. 37,500 at 15 Rs. Per Hour. d]. Direct workers were paid Rs. 28,700 in March. e]. Actual overhead cost for the month amounted to Rs. 40,300 f]. Overhead is applied to jobs at the rate of RS. 18 per direct labour hour. g]. Jobs with total accumulated cost of Rs. 126,800 were completed during the month. h). During March Jobs of Rs. 105,000 was sold at Rs. 175,000 on account REQUIRED Record above transactions in general journal and close factory overhead accountStep by Step Solution
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