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The following transactions were completed by Eagle Enterprises for the month ended January 31, 2019. 1. Indirect material purchased on account from James for

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The following transactions were completed by Eagle Enterprises for the month ended January 31, 2019. 1. Indirect material purchased on account from James for Rs. 100,000/- 2. Direct Material purchased on account for Rs. 20,000/- Terms 2/10, n/30. 3. Material issued for production to Job # 15 totaling Rs. 20,000/- 4. Furniture purchased for Marketing block Rs.200,000/- 5. Machinery purchased for Factory Rs. 150,000/- 6. Work in Process on January 1st was Rs. 10,000/- 7. Factory Payroll of Rs.40,000/- (Rs. 30,000/- direct labor, Rs. 10,000/- indirect labor) for the month was made at the office. FICA Tax @ 20% and income tax @ of 10% was deducted. 8. Factory Overhead applied @ of 100% of direct labor cost. 9. Depreciation for the year is to be charged @ 25% of Fumiture whereas for Machinery it is to be charged @ 10%. 10. Cost of production completed for the month Rs.50,000/- 11. Goods costing Rs. 80,000/- were sold for Rs. 150,000/- 12. Finished goods January 1st were Rs.30,000/- 13. Paid rent of car used in factory Rs. 5,000/-

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