Problem number 1 The standard cost and variance for Jan 2018 are as follow: Particular Arted Co Varian Te-favorable Favorab Direct Material 500.000 Price vrtance S Direct Labor 12000 Efficiency Viruner Required: 1. Standard cost for: a. Direct Material b. Direct Labor 2. Entries in general Journal to record the above the information. Problem number 2 The following information relates to the goods in process No. 3 of Mustafa Manufacturing for the month of October 2008: Goods in process (41000 100 complete al RTTAI 79% completo cover) Cost of 145,000 units trained in from prero No 2 daring October 1,450,000 Manufacturing cost added in process Na. 3. during November Derial 550.00 30.00 het l FOR MAT50 3.754.000 On October 30, 50,000 units are still in process No. 3 which are 100% complete as to material and 60% complete as to conversion cost. REQUIRED a. Compute the following: i. Equivalent units of production. ii. Cost per unit. iii. Cost of units transferred out of finished goods. b. General Journal entries to record i. Manufacturing cost added in process No. 3 during October. ii. Transfer of units from process No. 3 to finished goods warehouse. Problem Number 3: The following data relates to the Aahil & co. for the month of June 2013. Company using job order costing system Job Numbers Disc Materia 40000 20000 4 FOH applied 80% of the direct labor to each. Job No. 1, 2 and Job No. 4 were completed. Job No. 1 and 2 were sold 45% above the cost. Required: Calculate the following requirements. a. COGM b. WIP ending c. COGS d. FG ending e. Gross profit Show all necessary calculation. Problem number 1 The standard cost and variance for Jan 2018 are as follow: Particular Actual Cost Variances Un-favorable Favealde 26000 20000 12000 25000 1. Standard cost for: a. Direct Material b. Direct Labor 2. Entries in general Journal to record the above the information. Problem number 2: The following information relates to the goods in process No. 3 of Mustafa Manufacturing for the month of October 2008: Goods is process inventory (40,000 units 100% complete as to material Ra774,000 and 79% complete as to conversion cost) Cost of 145,000 units transferred in from process No. 2 during October Rs1,450,000 Manufacturing cost added in process No. 3, during November Direct material Direct labour FORL Rs 50,000 Rx 260,000 R750,000 R3,734,000 On October 30, 50,000 units are still in process No. 3 which are 100% complete as to material and 60% complete as to conversion cost. REQUIRED a. Compute the following: i. Equivalent units of production. ii. Cost per unit. iii. Cost of units transferred out of finished goods. b. General Journal entries to record: i. Manufacturing cost added in process No. 3 during October. ii. Transfer of units from process No. 3 to finished goods warehouse. Problem Number 3: The following data relates to the Aahil & co. for the month of June 2013. Company using job order costing system Job Number Direct Material FOR E 20000 45000 2 40000 3 40000 4 20000 FOH applied 80% of the direct labor to each. Job No. 1, 2 and Job No. 4 were completed. Job No. 1 and 2 were sold 45% above the cost. Required: Calculate the following requirements. a. COGM b. WIP ending. c. COGS. d. FG ending. c. Gross profit. Direct Material 100.000 Price variance Quantity Variance Direct Laber 900.000 Rate variance Efficiency Varance Required: Problem number 1 The standard cost and variance for Jan 2018 are as follow: Particular Arted Co Varian Te-favorable Favorab Direct Material 500.000 Price vrtance S Direct Labor 12000 Efficiency Viruner Required: 1. Standard cost for: a. Direct Material b. Direct Labor 2. Entries in general Journal to record the above the information. Problem number 2 The following information relates to the goods in process No. 3 of Mustafa Manufacturing for the month of October 2008: Goods in process (41000 100 complete al RTTAI 79% completo cover) Cost of 145,000 units trained in from prero No 2 daring October 1,450,000 Manufacturing cost added in process Na. 3. during November Derial 550.00 30.00 het l FOR MAT50 3.754.000 On October 30, 50,000 units are still in process No. 3 which are 100% complete as to material and 60% complete as to conversion cost. REQUIRED a. Compute the following: i. Equivalent units of production. ii. Cost per unit. iii. Cost of units transferred out of finished goods. b. General Journal entries to record i. Manufacturing cost added in process No. 3 during October. ii. Transfer of units from process No. 3 to finished goods warehouse. Problem Number 3: The following data relates to the Aahil & co. for the month of June 2013. Company using job order costing system Job Numbers Disc Materia 40000 20000 4 FOH applied 80% of the direct labor to each. Job No. 1, 2 and Job No. 4 were completed. Job No. 1 and 2 were sold 45% above the cost. Required: Calculate the following requirements. a. COGM b. WIP ending c. COGS d. FG ending e. Gross profit Show all necessary calculation. Problem number 1 The standard cost and variance for Jan 2018 are as follow: Particular Actual Cost Variances Un-favorable Favealde 26000 20000 12000 25000 1. Standard cost for: a. Direct Material b. Direct Labor 2. Entries in general Journal to record the above the information. Problem number 2: The following information relates to the goods in process No. 3 of Mustafa Manufacturing for the month of October 2008: Goods is process inventory (40,000 units 100% complete as to material Ra774,000 and 79% complete as to conversion cost) Cost of 145,000 units transferred in from process No. 2 during October Rs1,450,000 Manufacturing cost added in process No. 3, during November Direct material Direct labour FORL Rs 50,000 Rx 260,000 R750,000 R3,734,000 On October 30, 50,000 units are still in process No. 3 which are 100% complete as to material and 60% complete as to conversion cost. REQUIRED a. Compute the following: i. Equivalent units of production. ii. Cost per unit. iii. Cost of units transferred out of finished goods. b. General Journal entries to record: i. Manufacturing cost added in process No. 3 during October. ii. Transfer of units from process No. 3 to finished goods warehouse. Problem Number 3: The following data relates to the Aahil & co. for the month of June 2013. Company using job order costing system Job Number Direct Material FOR E 20000 45000 2 40000 3 40000 4 20000 FOH applied 80% of the direct labor to each. Job No. 1, 2 and Job No. 4 were completed. Job No. 1 and 2 were sold 45% above the cost. Required: Calculate the following requirements. a. COGM b. WIP ending. c. COGS. d. FG ending. c. Gross profit. Direct Material 100.000 Price variance Quantity Variance Direct Laber 900.000 Rate variance Efficiency Varance Required