please answer the following question in the attached file Smith Ltd, a firm of painting contractors, organises their books of account so as to account for their contract on a job cost basis.

Question 3 Smith Ltd, a firm of painting contractors, organises their books of account so as to account for their contract on a job cost basis. Balances, June 1st: Materials Control Account Jobs in process Material No.50 $ 700 No.51 570 Completed jobs No.49 1,020 $ 9,300 Labour 500 350 Overhead 250 175 Total 1,450 1,095 850 580 2,450 Cost information for June: Purchases of materials Raw material issues Job No 50 51 $ 70 130 $ 3,800 52 625 53 1,645 Material on hand (physical check) 30th June Direct Wages: Job No. 50 51 52 53 54 Indirect wages 54 1,410 Expense distribution for period: Item Total $ Rent 1,000 Plant Repairs 230 Plant depreciation 170 Factory Office 500 Management Exp. 425 Stores 220 Indirect Wages 580 $ 3,125 Total 4,100 $ 8,800 $ 150 190 520 1,370 940 580 Stores 220 direct labour hours direct labour hours direct labour hours direct labour hours machine hours labour hours Hours 300 380 1,200 2,800 200 1,000 Dept 1 $ 300 70 40 100 100 40 100 $ 750 Dept 2 $ 600 60 50 325 275 160 430 $ 1,900 Dept 3 $ 100 100 80 75 50 20 50 $ 475 Jobs 50 and 51 were produced in Dept 1. The budgets prepared in respect of this department were Direct Labour $400 and Factory Overhead $800. ( 200% of Direct Labour Cost ) Jobs 52 and Job 53 were produced in Dept 2. The budget prepared for Factory Overhead for Dept 2 was $2,500 to be recovered over 5,000 direct labour hours. ( 50 c per direct labour hour ) Job 54 was carried out in Dept 3. The budget of Factory Overhead of $500 was to be recovered over 250 machine hours. ($2.00 per machine hr) The jobs were charged out as below: Job No. $ 49 2,500 50 2,000 51 1,600 52 1,900 53 1,525 Required: Prepare (a) Job card summary for all jobs.. (b) out. A Income Statement for June showing costs and results for each job charged NOTE: You may use the templates on the following page for your answers. This page has been left blank for your answer to Question 3. (a) Job Cost Card Job No. Material Opening Balance Input 49 50 51 52 53 54 Total Labour Opening Balance Input Factory O/H Appl Opening Balance Input Total Work in Process Finished Goods Cost of Goods Sold (b) Job No. Sales - C.O.G.S. = Gross Profit/ (Loss) 49 Trading Statement 50 51 52 53 Total