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In this Question, Job Order Cost System has been assessed Q# 2: Job Order Costing (5% Grade) The following information has been taken from the job order cost system, used by SALEEM CORPORATION: Job No. Balance March 1 Production Cost in March 15 Rs. 150,000 16 170,000 17 50,000 Rs. 130,000 18 70,000 150,000 19 240,000 20 150,000 21 90,000 During March Job No. 17, 18 & 19 were completed, and job No. 15, 16 and 17 were sold on account at 40% above cost. REQUIRED: i) Cost of finished goods inventory - beginning ii) Cost of goods in process inventory - beginning iii) Cost of finished goods inventory - ending iv) Cost of goods in process inventory - ending v) Cost of goods manufactured vi) Cost of Goods sold vii) Sales --- Instructions Description Q# 3: Process Costing (5% Grade) The following information was taken from the books of Haniqa Manufacturing Company for the month of January 2016. They started Manufacturing and do not have Beginning Inventory Cost of Raw Material used 90,000 Direct Labour cost incurred 67,500 Factory Overhead Cost incurred 50,625 The data extracted from the production report relating to above process are as follows: No Unit at Start Units placed in production during January 15,000 units Units in process at end of January 31 [40% complete as to 5,000 units. Required: Equivalent Production Unit (Material & Conversion Cost) Unit Cost (Material, Conversion Cost, Total) Cost of unit completed and transferred out Cost of Work in process at end. material and 25% as to conversion cost]