Question
QUESTION 3 (15 marks) Jenkins (Pty) Ltd uses an interlocking accounting system. The following transactions took place during the month of October 2022: Description Value
QUESTION 3 (15 marks) Jenkins (Pty) Ltd uses an interlocking accounting system. The following transactions took place during the month of October 2022: Description Value R Material purchased on account 180 000 Materials issued to production Direct materials 150 360 Indirect materials 24 550 Maintenance of machinery which was paid for in cash 4 020 Sundry factory overheads purchased on credit 3 200 Labour paid for electronically Direct labour (16 000 hours) 240 000 Indirect labour 18 600 Selling and administration costs paid for electronically 53 095 Additional information: Manufacturing overheads are absorbed using direct labour hours. The predetermined overhead rate was calculated as R3 for October 2022. REQUIRED: Prepare the Manufacturing Overheads general ledger account for Jenkins (Pty) Ltd for October 2022. Ensure that the account is closed off at the end of the month. No dates or folios are required.
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