q1 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.

q2 XYZ Incorporation provides the following financial data for the month of July 2020: Beginning Inventories 'Rs.' Direct Material 12,000 WIP - Finished Goods - 1. Purchased material on accounts for Rs. 200,000 2. Defective material returned to supplier worth Rs. 5,000 3. Material and labor issued to job during the month Direct material Direct Labor Job # 101 40,000 65,000 Job # 102 50,000 80,000 Job # 103 30,000 50,000 Job # 104 25,000 40,000 Indirect 5,000 15,000 4. FOH rate is 120% of direct labor cost 5. Actual FOH cost incurred on account Rs. 250,000 Required a) Prepare journal entries to record the preceding transactions.