4. prepare a report showing the total cost of each job in process and prove that the sum of their cost equals the work in process inventory account balance. prepare a 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, $220,000. b. Materials requisitions record use of the following materials for the month. Job 136 Job 137 Job 138 Job 139 Job 140 Total direct materials Indireet materials Total materials used $ 48,000 33,000 19,800 23,200 6,800 130, 800 20,000 150,800 c. Paid $16,000 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 Job 137 Job 138 Job 139 Job 140 Total direct labor Indirect labor Total $ 12,300 10,700 37,900 39,000 3,800 103,700 25,500 129,200 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 $545,000. 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 $ 70,000 38,000 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. 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 Report of Job Costs Work in Process Inventory Job 137 Job 140 Balance Finished Goods Inventory Job 139 Balance Cost of Goods Sold Job 136 Job 138 Balance