Job ORDER COSTING

AC Manufacting Jobs

Job 01 Assembling
Job 02 Wiring
Job 03 Covering

Matrial

ENT

Purchases/ material

WIP

FG

JOB Order Re

Actual OH FOH WIP

Applied FOH

WIP

Ex-03 Dr
Req- 01 1-May
 Dr

Dr

Under applied OH

Dr
 Dr

Ex-03 General Entries

Req- 02
a) Cost of Goods Manuafactured

FG

b) Cost of Goods Sold

Cost of Goods Sold

c) Closing of OH

Applied OH

Cost of Goods Sold

RDER COSTING

anufacting Jobs

WIP FG

ENTRIES Ex-02
Req- 01
Dr Cr
xxxx Direct Material
Cash/ A/c Payable xxxx Issued Date
14-Sep
xxxx 20-Sep
Material xxxx 22-Sep

xxxx
WIP xxxx
Req- 02
JOB Order Related Entries

xxxx
Applied FOH xxxx

xxxx
Actual OH xxxx

xxxx
Actual OH xxxx

WIP
Cr
Job 369 4,500
Job 372 1,450 To FG 40,300
Material 13,000
DL 10,000
FOH ( DL *150%) 15,000

May End Job 379 in hand 3650

(1400+900+(900
*150%)
43,950 43,950

-
FG
Cr

From WIP 40,300 To CGS 38,300

Job 376 2,000

40,300 40,300

CGS
Cr
From FG 38,300

1,000

39,300 -

Actual FOH
Cr

Actual FOH 16,000 Applied FOH 15,000

 Under applied OH 1,000

16,000 16,000

Applied FOH
Cr
15,000 15,000

15,000 15,000

of Goods Manuafactured

40,300
WIP 40,300

Cost of Goods Sold

38300
FG 38300

Closing of OH

15000
Actual OH 15000

1000
Actual OH 1000
 Forge Machine Works
Job Order Cost Sheet - Job 642

Direct Material Direct Labor Applied FOH

Amount Date Hours Rate Cost Date Hours
1200 20-Sep 180 6.2 1116 20-Sep 180
662 26-Sep 140 7.3 1022 26-Sep 140
480
2,342 2,138

Sales Price of Job-642, contracted with mark up of 40% of cost

DM 2,342
DL 2,138
Applied FOH 1,120
Total Factory Cost 5,600
Mark up of 40% ( 5600* 40%) 2240
Sales Price 7,840
When
Applied FOH
Rate Cost
3.5 630
3.5 490

1,120