Question: Question 1) AAA Inc. has provided the following data for the month of August. The balance in the Work in Process inventory account was Rs.

Question 1) AAA Inc. has provided the following data for the month of August. The balance in the Work in Process inventory account was Rs. 30,000 at the beginning of the month and Rs. 15,000 at the end of the month. During the month, the Corporation incurred direct materials cost of Rs. 70,000 and direct labor cost of Rs. 45,000. The actual manufacturing overhead cost incurred was Rs. 70,000. The manufacturing overhead cost applied to Work in Process was Rs. 71,000. The cost of goods manufactured for August was:

Question 2: During February, Imtiaz Corporation, Rs. 110,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled Rs. 15,000. What is the amount in journal entry to record the requisition of direct material from the storeroom to production?

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