No need generalized ok 2.Q.No.1.CASE STUDiesThese data relate to Zakar Co.'s July 2017 operations:Materials. BeginningRs. 7,000Materials. Ending7,500WIP, Ending....10.000Finished goods. Ending46,800Direct Expenses.Selling and general expenses6,700Direct Labor...Factory overhead is applied at the rate of 80% of direct labor cost.WIP. Beginning.Finished goods, BeginningMaterials usedRequirement:Cost of materials purchased, Cost of goods manufactured, Cost of goods sold and Conversion CoFollowing are data Extracted from Ahmadullah Pvt. Ltd, at theSalesRs. 14.000,500Rs. 9.0003.50012.000400Purchases (Net)Direct Tal8,000

Name: No need generalized ok 2.Q.No.1.CASE STUDiesThese data relate to Zakar
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Description: No need generalized ok 2.Q.No.1.CASE STUDiesThese data relate to Zakar Co.'s July 2017 operations:Materials. BeginningRs. 7,000Materials. Ending7,500WIP, Ending....10.000Finished goods. Ending46,800Direct Expenses.Selling and general expenses6,700Dir

Costs of goods manufactured is the total cost of completed goods transferred from work in process…

Business

Accounting

2. Q. No. 1. CASE STUDies These data relate to Zakar Co.'s July 2017 operations: Materials. Beginning Rs. 7,000 Materials, Ending 7,500 WIP, Ending.... 10.000 Finished goods. Ending 46.800 Direct Expenses. Selling and general expenses 6,700 Direct Labor Factory overhead is applied at the rate of 80% of direct labor cost. Requirement: Cost of materials purchased, Cost of goods manufactured, Cost of goods sold and Conversion Co WIP. Beginning. Finished goods, Beginning Materials used Following are data Extracted from Ahmadullah Pvt. Ltd. at the Sales Rs. 14.000,500 Purchases (Net)|| Direct Tal Rs. 9.000 3.500 12.000 400 8,000

2. Q. No. 1. CASE STUDies These data relate to Zakar Co.'s July 2017 operations: Materials. Beginning Rs. 7,000 Materials, Ending 7,500 WIP, Ending.... 10.000 Finished goods. Ending 46.800 Direct Expenses. Selling and general expenses 6,700 Direct Labor Factory overhead is applied at the rate of 80% of direct labor cost. Requirement: Cost of materials purchased, Cost of goods manufactured, Cost of goods sold and Conversion Co WIP. Beginning. Finished goods, Beginning Materials used Following are data Extracted from Ahmadullah Pvt. Ltd. at the Sales Rs. 14.000,500 Purchases (Net)|| Direct Tal Rs. 9.000 3.500 12.000 400 8,000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6PB: During the year, a company purchased raw materials of $77,321 and incurred direct labor costs of...

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During the year, a company purchased raw materials of $77,321 and incurred direct labor costs of $125,900. Overhead Is applied at the rate of 75% of the direct labor cost. These are the inventory balances: Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold.
The WIP account given below relates to the activities of Jones Ltd for the month of April: WIP Inventory A/C Debit side : April1 Bal $15,000, Direct Material Used 123,000, Direct Labour Incurred ??, Manufacturing Overhead Applied ??, Credit Side: Finished Goods ??, Additional data: Manufacturing Labour Costs incurred..$163,500 (75% represents direct labour), Manufacturing Overhead Rate....120% of direct labour cost, Actual Manufacturing Overhead Costs for April...$165,150 Two jobs were completed with total costs of $183,000 and $105,000 respectively. They were sold on account at a mark-up of 50% on cost. After these transactions have been recorded, the balance in Cost of Goods sold account (after adjusting ffor the MOH variace )is: a. 288,000 b. 306,000 c. 270,000 d. 432,000
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