Question 1: Tata Motors produces trucks for commercial use. The company uses a normal Job-order costing system to calculate its cost of goods manufactured. On January 01, 2019, there was only one job in process with the following costs: Job A-1 Direct materials $5,000 Direct labour 15,000 Applied overhead 24,000 Total $44,000 The following balances were taken from the general ledger of the company as of January 1, 2019: Direct materials inventory $35,000 Finished goods inventory (for Job D-1) $65,000 During the year 2016, the following events occurred: Direct materials were purchased on account for $275,000 Two more jobs were started: Job B-1 and Job C-1. Direct materials and direct labour costs incurred by each job in process during the year 2019 are as follows: Job A-1 Job B-1 Job C-1 Direct Materials $150,000 $30,000 $10,000 Direct Labour $150,000 $35,000 $15,000 The rmnany incurred the following actual factory overhead during the year: Question 1: Tata Motors produces trucks for commercial use. The company uses a normal Job-order costing system to calculate its cost of goods manufactured. On January 01, 2019, there was only one job in process with the following costs: Job A-1 Direct materials $5,000 Direct labour 15,000 Applied overhead 24,000 Total $44,000 The following balances were taken from the general ledger of the company as of January 1, 2019: Direct materials inventory $35,000 Finished goods inventory (for Job D-1) $65,000 During the year 2016, the following events occurred: Direct materials were purchased on account for $275,000 Two more jobs were started: Job B-1 and Job C-1. Direct materials and direct labour costs incurred by each job in process during the year 2019 are as follows: Job A-1 Job B-1 Job C-1 Direct Materials $150,000 $30,000 $10,000 Direct Labour $150,000 $35,000 $15,000 The rmnany incurred the following actual factory overhead during the year