Journalise the following transactions in the Cost Journal assuming that separate cost records are maintained :
|(a)||Credit Purchases for Special job||1,000|
|(d)||Materials Returned from Production to Store||1,000|
|(e)||Materials transferred from Job No. 101 to job No. 102||1,000|
|(f)||Normal idle time of direct labour||1,000|
|(g)||Abnormal idle time of labour||1,000|
|(i)||Production Overhead incurred||10,000||absorbed
|(j)||Admn. Overhead incurred||10,000||absorbed
|(k)||Selling and Distribution Overhead Incurred||10,000||absorbed
|(l)||Material lost from stores by theft||1,000|
|(m)||Normal Shortage of materials in stores durlng physical verification||1,000|
|(n)||Excess of materials found in stores during physical verification||1,000|
|(o)||Depreciation on Plant and Machinery||10,000|
|(p)||Material purchased for immediate repair work||1,000|
|(q)||Return of indirect materials to stores||1,000|
|(s)||Cost of Sales||1,00,000|
|(u)||Transfer of cost incurred on capital order and capitalised in financial A/c.||10,000|
From the following figures ascertained from Costing Records and Financial books of a Factory, you are required to pass necessary entries in the Cost Journal (Assume that a system maintaining Control Accounts prevails in the Organisation).
|(f)||Works on Cost||Rs.||3,48,400|
|(g)||Materials used in repairs||Rs.||3,120|
|(h)||Cost of Completed Jobs||Rs.||12,80,630|
From the following Particulars pass the Journal Entries in an integral accounting system:
(a) Issued materials Rs. 3,00,000 of which Rs. 2, 80,000 (Standard Rs. 2,40,000) is direct material.
(b) Net wages paid Rs. 70,000 deductions being Rs. 12,000 (Standard Rs. 750,00).
(c) Gross salaries payable for the period is Rs. 26,000 (Standard Rs. 25,000). Deduction Rs. 2,000.
(d) Sales (Credit) Rs. 8,00,000.
(e) Discount allowed Rs. 5,000.
(f) Salaries and Wages allocation: Rs. 60,000 direct (Standard Rs. 62,000) and out Of the balance, 50% production, 30% admn. and 20% selling and distribution overheads.