Task 4 Jensen Ltd is a boatbuilding company. They manufacture boats to customer specifications, and accounts for production using job order costing. An extract from their trial balance as at 30 June 2018 showed the following: Material Control 52,060 Work in Process Job 66 31,730 Finished Goods Job 65 55,470 Total Inventory 139,260 During July 2018 the following transactions occurred: During July 2018 the following transactions occurred: Item Raw material purchased on credit 77,460 Factorv wages incurred machine operators 49,820 Supervisors and store clerk 18,100 67,920 11,080 Invoice received for factory.r overhead expenses Factorv non-current assets costing $630,000 are depreciated at 20% pa. Raw materials and stores requisitioned to jobs: Job 67 15,940 Job 68 21,860 Job 69 16,600 Job 70 Indirect Analysis of time sheets for the machine operators Labour Hours Job 66 18 2,520 Job 67 Job 68 Job 69 Job 70 Idle time - Inyoice received for subcontracting cost on Job 68 = $5,600. 0 The factory overhead application rate is $160 per direct labour hour. t At 31 July, Job 70 was not completed and Job 69 was in the finished goods store. All other jobs were sold. Required a. Prepare a Job Card Cost Summary for July 2018 b. Record the above entries for July 2018 in the following ledger accounts: i. Material Control ii. Labour Control iii. Factory Overhead Control iy. Work in Process y. Finished Goods