7 Required information [The following information applies to the questions displayed below Widmer Watercraft's predetermined overhead rate for the year 2017 production activities during May 2017 follows is 200% of direct labor. Information on the company's Part 4 of 4 a. Purchased raw materials on credit, $220,000. b. Materials requisitions record use of the following materials for the month. 10 points Job 136 $ 49,000 Job 137 33,000 20,000 22,400 Job 138 Job 139 Job 140 7,000 Total direct naterials Indirect materials 131,400 20,500 Total materials used $151,9e0 c Paid $15,750 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. Savod Help Expired factory insurance Accrued property taxes payable 10,000 35,ee0 7 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, Part 4 of 4 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 10 points Report of Job Costs Work in Process Inventory Balance Finished Goods Inventory Balance Cost of Goods Sold 7 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 Part 4 of 4 Work in Process Inventory 10 points Balance Finished Goods Inventory Balance Cost of Goods Sold Balance