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BCOM/ADC Part2 Cost Accounting Job Order Cost System 2017 Q#3 General Entries Under/Over Applied FOH
BCOM/ADC Part2 Cost Accounting Topic Job Order Costing 2018 Q#4 T Accounts FOH,WIP,FG & C.O.G.S Under/Over Applied Factory Overhead
Question is Given Below
JOB ORDER COSTING
The Shine Company uses Job Order Costing provided the following details: Three Incomplete Jobs at the start of the month having a total cost 10,000. There were no beginning inventory of Finished goods. During month, Eight new Jobs were started. Manufacturing Cost incurred during month:
Direct Material Rs. 20,000
Direct Labour 30.000
FOI (actual) 47,000.
Applied FOL 150% of Direct Labour Cost..
The only job in process at the end of the month, having D.M. Cost Rs 1000 & D.L. cost Rs. 1200.
The only finished job on hand at the end of the month having a total Rs. 5000
REQUIRED: The accounts for FOH, WIP, F.G. & Cost of goods sal
Note: Close FOH variance to cost of goods sold.
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