1) Iqbal Corporation applies overhead cost to jobs on the basis of 60% of direct labor cost. If Job # 501 shows Rs. 30,000 of manufacturing overhead applied, the direct labor cost on the job was: ?

2) Job 425 was recently completed. The following data have been recorded on its job cost sheet:

Direct materials 6,190

Direct labor-hours 53 labor-hours

Direct labor wage rate 19 per labor-hour

Machine-hours 250 machine-hours

The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is Rs. 18 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 425 would be: ?

3) The following information has been taken from the Ledger of Numan Corporation for the year ended on June 30, 2015.

Stock of material, June 30 2015 Rs. 15,700

Stock of materials, July 1, 2014 12,000

Material purchased during the year 46,250

Carriage outward 1,075

Carriage inward 1,786

Salaries - Factory 1,625

Salaries - Office 3,150

Discount Expenses 725

Bad debts written off 1,628

Repairs of plant, machineries and tools 1,113

Rent and insurance - Factory 2,125

Rent and insurance - Office 500

Sales 115,275

Travelling Expenses 525

Traveler's salaries and commission 1,925

Productive wages 31,500

Depreciation of machinery and tools 1,625

Depreciation of office furniture 75

Director's fees 1,500

Gas, and water - Factory 300

Gas and water - Office 100

Manager's salary (3/4^thfactory, 1/4^thoffice) 2,500

General Expenses 850

Calculate Conversion Cost.

4) The following balances have been taken from the general ledger for Royal Fan Manufacturing Company:

Raw Materials Inventory (1-12-2014) Rs. 40,000

Raw Material Purchases 190,000

Raw Materials Returns 9,000

Carriage Inwards 15,000

Direct Labor 255,000

Indirect Labor 60,000

Depreciation (Machinery) 30,000

Hear, Light and Power 25,000

Factory Rent and Taxes 31,000

Factory Repairs Expense 19,000

Foreman 's Salary 25,000

Raw Material (31-12-2014) 58,000

Work in Process (1-12-2014 63,000

The foreman estimates that Rs. 32,000 of Raw Materials and Rs. 25,000 of Direct Labor are to be allocated to the unfinished goods in process on 31-12-2014.

Calculate amount of Cost of Goods Manufactured.

5) Altaf Manufacturing Corporation work in process inventory at start consisted of 10,000 units, 100% complete materials cost and 40% complete s to conversion costs. The total cost in the beginning inventory was Rs. 30,000. During June, 50,000 units were transferred out. The equivalent unit cost was computed to be Rs. 2.00 for materials and Rs.3.70 for conversion costs under the weighted-average method.

The total cost of the units completed and transferred out was:?