Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Q # 3 XYZ Equipment In. receives order from Shiraz Consultant Clinic on 15 th August. The company started its production on 18 th of

Q # 3

XYZ Equipment In. receives order from Shiraz Consultant Clinic on 15th August. The company started its production on 18th of August and completed in 25th of August. The company collects its cost and revenue data by the job order cost accumulation procedure. For job number 505, the following data are available:

Direct material

Direct Labor

FOH-Applied

Date

REQ. NO:

Amount

Rs.

Date

Hours

Cost

Rs.

Rs. 30 for each direct labor hours

8/18

400

4000

8/18

30

600

?

8/19

600

6000

8/19

40

800

8/25

1000

10000

8/21

35

700

Total

20000

8/23

50

1000

8/25

60

1200

Total

4300

Other Information:

  1. Total Sales are 30% above cost.
  2. Marketing and selling expenses Rs. 1000
  3. Administrative expenses 1500.

Required

Enter the appropriate information on a job order cost sheet.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

18th Edition

9781119790976

Students also viewed these Accounting questions