1. Prepare a job cost sheet for each job worked on during the month. 2. Prepare journal entries to record the events and transactions a through i. 3. Post the journal entries for the transactions to the following T-accounts, each of which started the month with a zero balance. 4. Prepare a report showing the total cost of each job in process and prove that the sum of their costs equals the Work in Process Inventory account balance. Prepare similar reports for Finished Goods Inventory and Cost of Goods Sold.

Widmer Watercraft's predetermined overhead rate for the year 2017 is 200% of direct labor. Information on the company's production activities during May 2017 follows. a. Purchased raw materials on credit, $260,000. b. Materials requisitions record use of the following materials for the month 50,000 Job 136 Job 137 34,000 19,400 Job 138 Job 139 22,800 Job 140 7,000 133,200 19,500 Total direct materials Indirect materials Total materials used 152,700 c. Paid $15,500 cash to a computer consultant to reprogram factory equipment d. Time tickets record use of the following labor for the month. These wages were paid in cash Job 136 12,000 Job 137 10,600 Job 138 38,100 Job 139 39,400 Job 140 3,000 Total direct labor Indirect labor 103,100 26,500 $ 129,600 Total e. Applied overhead to Jobs 136, 138, and 139. f. Transferred Jobs 136, 138, and 139 to Finished Goods. g. Sold Jobs 136 and 138 on credit at a total price of $540,000. h. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance). $ Depreciation of factory building Depreciation of factory equipment Expired factory insurance Accrued property taxes payable 69,000 38,500 11,000 35,000 i. Applied overhead at month-end to the Work in Process Inventory account (Jobs 137 and 140) using the predetermined overhead rate of 200% of direct labor cost