From the following particulars pass the journal entries in an integral accounting system: (a). Issued materials Rs.
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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. 75,000/-)
(c). Gross salaries payable for the period is Rs. 26,000/- (standard Rs. 25,000/-), Deductions 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.
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