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Topper Inc. had following inventories on March 1: Finish goods Rs. 15000, WIP Rs. 19070 and Materials Rs. 14000. The work in process control three
Topper Inc. had following inventories on March 1: Finish goods Rs. 15000, WIP Rs. 19070 and Materials Rs. 14000. The work in process control three jobs: Job No. 62 Materials Rs. 2800, Labor Rs. 2100 and Applied FOH Rs. 1680. Job No. 63 Materials Rs. 3400, Labor Rs. 2700 and Applied FOH Rs.2160. Job No. 64 Materials Rs. 1800, Labor Rs. 1350 and Applied FOH Rs.1080. The following information pertains to March operations: Material purchased and
building and equipment Rs.250 for expired insurance on the factory. The remaining overhead, RS. 3250 was unpaid at the end of march. FOH applied to production: 80% of the direct labor cost to be charged to three job based on
labor cost for march. Jobs 62 and 63 were completed and transferred to the finish goods warehouse. Both jobs 62 and 63 were shipped and billed at gross profit of 40% of the cost of goods sold. Cash collections from accounts
receivable during March were Rs 69,450. 0
building and equipment Rs.250 for expired insurance on the factory. The remaining overhead, RS. 3250 was unpaid at the end of march. FOH applied to production: 80% of the direct labor cost to be charged to three job based on
labor cost for march. Jobs 62 and 63 were completed and transferred to the finish goods warehouse. Both jobs 62 and 63 were shipped and billed at gross profit of 40% of the cost of goods sold. Cash collections from accounts
receivable during March were Rs 69,450. 0
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