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 80% of the direct labor to each. Job No. 1, 2 and Job No. 3 were completed. Job No. 2 was sold 45% above the cost. Required: Calculate the following requirements.   a. COGM. b. WIP ending. c. COGS. d. FG ending. e. Gross profit. f. Selling price.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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 80% of the direct labor to each.

Job No. 1, 2 and Job No. 3 were completed.

Job No. 2 was sold 45% above the cost.

Required: Calculate the following requirements.

 
a. COGM.
b. WIP ending.
c. COGS.
d. FG ending.
e. Gross profit.
f. Selling price.

 

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