Question 3: The following data relates to the Aahil & co. for the month of June 2013. Company using job order costing system. Job Numbers Direct Material Direct Labor 1 30000 50000 2 20000 40000 3 30000 25000 4 15000 10000 FOH applied 120% of the direct labor to each. Job No. 1, 2 and Job No. 3 were completed. Job No. 1 & 2 was sold 45% above the cost. Required: b) Calculate the following requirements. i. COGM. ii.WIP ending. iv. FG ending. v. Gross profit
Question 3: The following data relates to the Aahil & co. for the month of June 2013. Company using job order costing system. Job Numbers Direct Material Direct Labor 1 30000 50000 2 20000 40000 3 30000 25000 4 15000 10000 FOH applied 120% of the direct labor to each. Job No. 1, 2 and Job No. 3 were completed. Job No. 1 & 2 was sold 45% above the cost. Required: b) Calculate the following requirements. i. COGM. ii.WIP ending. iv. FG ending. v. Gross profit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 3: The following data relates to the Aahil & co. for the month of June 2013. Company using
|
Job Numbers |
Direct Material |
Direct Labor |
|
1 |
30000 |
50000 |
|
2 |
20000 |
40000 |
|
3 |
30000 |
25000 |
|
4 |
15000 |
10000 |
FOH applied 120% of the direct labor to each.
Job No. 1, 2 and Job No. 3 were completed.
Job No. 1 & 2 was sold 45% above the cost.
Required:
b) Calculate the following requirements.
i. COGM.
ii.WIP ending.
iv. FG ending.
v. Gross profit
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