a. Purchased raw materials on credit, $240,000. b. Materials requisitions record use of the following materials for the month Job 136 Job 137 Job 138 Job 139 Job 140 $ 48,000 32.500 19,800 23,400 7,000 Total direct materials Indirect materials 130,700 19.500 Total materials used $150.200 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. Job 136 Job 137 Job 138 Job 139 Job 140 $ 12,200 10.500 37.900 39,400 3,600 Total direct labor Indirect labor 103,600 26,500 Total $ 130,100 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 38.500 11,000 36.500 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. Required: 1. Prepare a job cost sheet for each job worked on during the month. Job No. 136 Job No. 137 Job No. 138 Job No. 139 Job No. 140 Materials Labor Overhead Total cost 2. Prepare journal entries to record the events and transactions a through i. View transaction list Journal entry worksheet Record the entry for direct and indirect labor, paid in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 3. Prepare T-accounts for each of the following general ledger accounts, each of which started the month with a zero balance: Raw Materials Inventory, Work in Process Inventory. Finished Goods Inventory Factory Payroll, Factory Overhead, Cost of Goods Sold. Post the journal entries from Part 2 to the following T-accounts Raw Materials Inventory Work in Process Inventory End.bal. End.bal. Factory Overhead Finished Goods Inventory End.bal. End.bal Cost of Goods Sold End.bal. 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 Balance Finished Goods Inventory Balance Cost of Goods Sold Balance