You are given the cost records for the quarter ending 31^st March 2019 of Abby works LLC. The company maintains job order cost system.

Details of cost transactions incurred during the quarter:

1. Material purchased on account OMR 98,500
2. Factory overhead cost incurred on account OMR 78,000

3. Plant and machinery balance as on 01.01.2019 OMR 480,000
4. Depreciation on plant machinery@ 7% p.a
5. The factory overhead rate is 80% of direct labour cost
6. Jobs completed No:401 and 403.
7. Job no. 401.shipped and billed for OMR 55,000;

1. Material requisitioned and Factory labour used:

Job NO.	MateriaL (OMR)	Factory Labour(OMR)
401	15,000	17,000
402	17,000	13,520
403	13,500	10,080
404	18,500	18,700
405	22,000	26,200
General Factory use	6,200	10,800

Required:

1. Record journal entries.
2. Draw Work in process and Finished goods account
3. Compute gross profit /loss if any for the quarter ending 31^st December 2019