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|
|Date||Particulars||L.F.||Debit Rs.||Credit Rs.|
Stores Ledger Control A/c. Dr.
|To General Ledger Adjustment A/c||3,90,000|
|(Being the amount of purchases made).|
Stores Ledger, Control A/C. Dr
|To General Ledger Adjustment A/c||5,850|
|(Being the amount of carriage inwards incurred.)|
|(c)||Work-in-progress Ledger Control A/c.Dr.||3,58,800|
|To Stores Ledger Control A/c.||3,58,800|
|(Being the Stores issued to production)|
|(d,e)||Wages Control A/c. Dr.
(Rs. 3,46,320 + Rs. 1,21,680)
|To General Ledger Adjustment A/c.||4,68,000|
|(Being the amount of wages paid to employees)|
|(f)||Work-in-Progress Ledger Control A/c. Dr.
Factory Overhead Control A/c. Dr.
|To Wages Control No.||4,68,000|
|(Being the amount of production wages. allocated to Jobs and unproductive labour
apportioned to factory overhead)
|(g)||Factory Overhead Control A/c. Dr.||3,120|
|To General Ledger Adjustment A/c.||3,120|
|(Being the cost of indirect materials issued and used for repair)|
|(h)||Finished Goods Ledger Control No. Dr.||12,86,630|
|To Work-in-progress Ledger Control A/c.||12,86,630|
|(Being the cost of completed jobs transferred
from Work-in-progress No.)