Question #03 The following data relates to Johnson Company for the month of September 2012 (who maintains job order cost system). You are asked to: 1. Pass necessary journal entries to record the information summarized below. Prepare accounts in ledger of the company for the accounts, work in process and finished goods. II. Data: a) Material purchased on account Rs. 120,000. b) Material requisitioned and factory labor used: Job 501 Job 502 Job 503 Job 504 Job 505 Job 506 For general factory use Material 13,000 9,000 22,400 17,600 14,000 7,000 3,800 Factory Labor 19,000 15,520 14,080 20,800 7,200 3,600 7,400 c) Factory overhead cost incurred on account Rs. 68,800. d) Depreciation of machinery Rs. 10,400. e) The factory overhead rate is 110% of direct labor cost. f) Jobs completed: 501, 503, 504 and 506 g) Jobs 501, 503 and 504 were shipped and customers were billed for Rs. 84,000, Rs. 85,000 and Rs. 100,000