Job Costing Practical Assignment in Tally

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Job Costing and Implement it in Tally Prime

Mahalakshmi Electrical Contractors Pvt Ltd is a well-known company which is specialized in electrical works for residential, commercial and industrial buildings.  They take up various customer contracts for a lumpsum amount, they buy required electrical materials from suppliers and install in customer’s premises.

You are required to manage multiple projects they are working at present and present the reports to management.

Project Names:

1.      Saraswati Heights:  Residential apartments built by Saraswati Constructions Pvt Ltd

2.      Esteem Square: Commercial Building built by Esteem Builders Pvt Ltd

They buy materials centrally and store at warehouse, and then required materials are supplied to projects.  Then the projects consume materials as required.

     Record given below transactions:

Ø              Purchased list of materials from supplier ‘Prakash Electricals’ on 1^st April 2019, GST                 applicable at 18% on the price mentioned.

Stock Item Name	Qty	Rate
Wire Coils	500 Coils	800 / Coil
Switch	2,000 Nos	50 / No
Plastic Pipes	1,000 Nos	40 / Length
GI Switch Box	400 Boxes	100 / Box

Ø                               

                   On 4^th April 2019, below materials transferred to projects from Main Warehouse

Stock Item Name	Saraswati Heights	Esteem Square
Wire Coils	300 Coils	150 Coils
Switch	1,100 Nos	500 Nos
Plastic Pipes	600 Nos	300 Nos
GI Switch Box	250 Boxes	150 Boxes

 

Ø                               On 25^th April 2019, below materials been consumed to projects

Stock Item Name	Saraswati Heights	Esteem Square
Wire Coils	250 Coils	125 Coils
Switch	850 Nos	500 Nos
Plastic Pipes	525 Nos	280 Nos
GI Switch Box	225 Boxes	150 Boxes

 

Ø                                    On 30^th April 2019, paid expenses for project works by cash

Stock Item Name	Total Expenses	Saraswati Heights	Esteem Square
Labour Charges	1,45,000	85,000	60,000
Transportation Charges	37,000	22,000	15,000

 

Ø                             On 30^th April 2019, raised Invoices for (GST is charged at 12% above the contract                    amount on both invoices)

o ‘Saraswati Heights’ contract on ‘Saraswati Constructions Pvt Ltd ‘ of Rs. 6,00,000

o   ‘Esteem Square’ contract on ‘Esteem Builders Pvt Ltd’ for Rs. 3,50,000. 

OUTCOME

 

               Below are the outcomes after setting up Job Costing as per business scenario, this is for your reference to ensure that you have done it properly.

 

              Business Scenario  

                        Project Report for Profit or Loss Analysis

 

                       Material Consumption Stock Summary – Project-wise

 

                       Project Comparison Report

 

                       Detailed Stock Summary with Godown-wise Break-up