Q.1.The Cambridge company uses job order costing. At the beginning.of May, twdjobs were in process:Job # 369Job # 372MaterialsRs.700'Ra.2,0001,0001,500Direct labor300Applied factory overheadThere was no inventory of Finished Gods on May 1. During the month. jobs # 373,374, 375, 37o, 378 and 379 were started.Materials requisitions for May totaled Rs.13,000, and direct labor cost Rs. 10.000 andactual fo.h, Rs.16.000, Factory overhead is applied at a rate of 150% of direct laborcost.450The only job still in Process(w.I,P) at the end of May is Job # 379, with costs ofRs.1,400 for materials and Rs.900 Tor direct labor.Job # 376, the only finished job on hand at the end of May. has a totąl cost ofRs.2,000.REQUIRED:A- Prepare all necessary general journal entriesB- Show all computations.

Name: Q.1.The Cambridge company uses job order costing. At the beginning.of
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Description: Q.1.The Cambridge company uses job order costing. At the beginning.of May, twdjobs were in process:Job # 369Job # 372MaterialsRs.700'Ra.2,0001,0001,500Direct labor300Applied factory overheadThere was no inventory of Finished Gods on May 1. During th

Journal entries refer to the process of all the transactions done by a company into the accounting…

Answered: mbridge company uses job order costing.…

Business

Accounting

mbridge company uses job order costing. A e in process: Job # 369 Ra.2,000 1,000 1,500 overhead

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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