QUESTION NO 2:The corporation has go through different process while manufacturing of goods and havefollowing cost during the month of operation, Pass the Journal entries with cost accountingcontrol Account:i. During costing at different department (Job order costing) one job completed with thecost of 2,50,0000 dollars.1ii. Cost of raw material consumed during the month totaled as 73000 dollars out of whichmaterial of 3000 is indirect while other is direct.iii. Factory completed the production of goods costing 85000 dollars on 29 januray2014.iv. Some of the material during processing seemed to be defective and return to the supplierwith amount total as 10,000.from which half is indirect and half is direct material. Thesupplier will pay the amount later.Factory payroll for the month included 20,000 dollars of direct labor and 5000 of indirectlabor ,pay checque was issued.v.

Name: QUESTION NO 2:The corporation has go through different process while
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Description: QUESTION NO 2:The corporation has go through different process while manufacturing of goods and havefollowing cost during the month of operation, Pass the Journal entries with cost accountingcontrol Account:i. During costing at different department

Job-Cost System-: A job cost system is also known as job costing accumulates costs incurred as per…

Business

Accounting

The corporation has go through different process while mar following cost during the month of operation, Pass the Journ control Account: i. During costing at different department (Job order cos cost of 2,50,0000 dollars.

The corporation has go through different process while mar following cost during the month of operation, Pass the Journ control Account: i. During costing at different department (Job order cos cost of 2,50,0000 dollars.

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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