Question #04 The following data relates to CR-7 Company for the month of March, 2016 (who maintains job order cost system). You are asked to: III. 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. IV. Data: h) Material purchased on account Rs. 145,000. i) Material requisitioned and factory labor used: Job 201 Job 202 Job 203 Job 204 Job 205 Job 206 For general factory use Material 12,000 8,000 25,400 16,600 15,000 9,000 5,000 Factory Labor 20,000 15,000 13,500 21,500 8,200 4,600 8,000 j) Factory overhead cost incurred on account Rs. 70,800. k) Depreciation of machinery Rs. 10,000. 1) The factory overhead rate is 110% of direct labor cost. m) Jobs completed: 201, 203, 204 and 206 n) Jobs 201, 203 and 204 were shipped and customers were billed for Rs. 104,000, Rs. 105,000 and Rs. 106,000