How to prepare a job sheet for the given transactions?

Problem

Prepare a job sheet using the transactions given below −

The job sheet for the respective transactions is as follows −

Raw materials		Manufacturing overheads
Carrying balance	30000	Work in progress (job B)	295000
Used in next year	750000	Depreciation overhead	220000
	780000	Sales commissions	195000
Work in progress (job A)	675000	Utilities overhead	50000
Balance	105000	Insurance overhead	15000
			775000
		Work in progress (A+B)	605000
		Balance	170000
Work in progress		Net operating income
Carrying balance	88000	Sales	2058000
Work in progress (job A)	310000	Cost of goods sold
Direct labour costs	125000	Carrying balance	28000
Indirect labour costs	202000	Cost of goods sold in next year	963000
Work in progress (job B)	295000		991000
Direct labour costs	98000	Gross profit	1589000
Indirect labour costs	103000	Sales commissions	(195000)
	1221000	Administrative expenses	(105000)
Finished goods	1089700	Advertising expenses	(310000)
Balance	131300	Travel expense	(40000)
		Insurance	(15000)
			924000

Updated on 17-May-2022 14:51:46

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