Prepare General journal entries for the given question 7. The applicl Inctory overbead cost amountel to Rs.480,000No.urchased malerials on account Rs.750.000nefective inuterjal were retunied Ig.20.00n5. Direct lubor cost lucurred was Rs.720,000 .0. Tactory overliead cost on account was Ns.390,000plrect material were issued to Job Rs.625,000-Indirect materlal were issued to Tactory Rs.25,0001.irsct material were issued to Job Rs.625.00o,1.1.4. Direct Jubor cost luçurred was Rs.720,0005. indirect labor cost incurred was Rs.15,0006. he applicl Inctory overbead cost amounteil to Rs.480,000Tactory overlıead cost on account was s.390,000" F'uctory depreciation cost was eslimated at RsA0,00010. The jols were completed for Rs.1,460,00011. Pinished goods costing were sold Rs.1,200,00012. The finlehed goods were sold on account for Rs.1,800,00013. Balnnce of factory overbend account was cloied lato the Cost ol goods roldD.No.2

The journal entries are prepared to record daily transactions of the business on regular basis.

Nelective inuterial were retunied IG.20,000 Indirect labor cost incurred was Rs.75,000 Direct Jubor cost lucurred was Rs.720,000 . otrret material were issued to Job Rs.625.00o. Dltrect materlal were issued to Tactory Rs.25,000 Direct lubor cost luçurred was Rs.720,000 indirect labor cost incurred was Rs.15,000 The appliel Inctory overbead cost amounteil to Rs.480.00 Jactory overlhead cost on ng

Nelective inuterial were retunied IG.20,000 Indirect labor cost incurred was Rs.75,000 Direct Jubor cost lucurred was Rs.720,000 . otrret material were issued to Job Rs.625.00o. Dltrect materlal were issued to Tactory Rs.25,000 Direct lubor cost luçurred was Rs.720,000 indirect labor cost incurred was Rs.15,000 The appliel Inctory overbead cost amounteil to Rs.480.00 Jactory overlhead cost on ng

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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