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Foster Manufacturing uses a job order cost accounting system. On April 1, the company has...

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Accounting

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Foster Manufacturing uses a job order cost accounting system. On April 1, the company has work in Process Inventory of Rp. 7,600 M and two jobs in process: Job No. 121, Rp.3,600 M, and Job No. 122, Rp4,000 M. During April, the work in process required the direct materials, factory labor as follows, Job Materials used (in Million) Direct Labor cost (In million) Job No. 121 1,200 $2,100 122 1,700 2,200 123 2,400 2,900 Foster applies manufacturing overhead to jobs at an overhead rate of 70% of direct labor cost. Job No. 121 and 122 are completed during the month. Job no.121 is sold at 40 above the cost Required: 1. Prepare journal entries to record the assignment of raw materials, direct labor, and factory overhead to work in process for each job. 2. Prepare journal entries to record the completion of Job No. 121 and job No.122 3. Prepare journal entry to record the sales with perpetual method (all sales are made in cash)

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