The data below relates to a single accounting period in a Jobbing EngineeringworksExtracts from Job cost cardsOpening WIP10,62015,25010,830Charged during32.84053,260Closing WIP12,60016,1709,260MaterialsLabourProduction33,520overheadsThe financial accountant supplied the following information relating to the end ofthe year 2017Material purchaseSelling and administration overheadsProduction overheads39,15012,78030,620146,330SalesThe opening stock of raw materials was Ghc 9.200. All completed jobs areinvoiced immediately to customers and you are advised that the costdepartment recovers selling and administration overheads at the rate of 10%of cost of completed Jobs. The company operates an interlocking accountingsystem.Required :Write the cost ledgers

Name: The data below relates to a single accounting period in a Jobbing Eng
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Description: The data below relates to a single accounting period in a Jobbing EngineeringworksExtracts from Job cost cardsOpening WIP10,62015,25010,830Charged during32.84053,260Closing WIP12,60016,1709,260MaterialsLabourProduction33,520overheadsThe financial ac

Cost Accounting is the accounting for controlling cost of an organization. Overheads are absorbed as…

Business

Accounting

The data below relates to a single accounting period in a Jobbing Engineering works Extracts from Job cost cards Opening WIP 10,620 15,250 10,830 Charged during 32,840 Closing WIP 12,600 16,170 9,260 Materials Labour Production overheads 53,260 33,520 The financial accountant supplied the following information relating to the end of the year 2017 Material purchase Selling and administration overheads 39,150 12,780 30,620 146,330 Production overheads Sales The opening stock of raw materials was Ghc, 9,200. All completed jobs are invoiced immediately to customers and you are advised that the cost department recovers selling and administration overheads at the rate of 10% of cost of completed Jobs. The company operates an interlocking accounting system. Required: Write the cost ledgers

The data below relates to a single accounting period in a Jobbing Engineering works Extracts from Job cost cards Opening WIP 10,620 15,250 10,830 Charged during 32,840 Closing WIP 12,600 16,170 9,260 Materials Labour Production overheads 53,260 33,520 The financial accountant supplied the following information relating to the end of the year 2017 Material purchase Selling and administration overheads 39,150 12,780 30,620 146,330 Production overheads Sales The opening stock of raw materials was Ghc, 9,200. All completed jobs are invoiced immediately to customers and you are advised that the cost department recovers selling and administration overheads at the rate of 10% of cost of completed Jobs. The company operates an interlocking accounting system. Required: Write the cost ledgers

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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