Chp 2: Job Order Costing & Analysis i Saved Help Save & Exit Submit Check my work Problem 02-5A Production transactions, subsidiary records, and source documents LO P1, P2, P3, P4 Sager Company manufactures variations of its product, a technopress, in response to custom orders from its customers. On May 1, the company had no inventories of work in process or finished goods but held the following raw materials. points eBook Material M Material R Paint Total cost 300 units 95 units 95 units @ $270 - $ 81,000 @ 270 - 25,650 @ 120 - 11,400 $ 118,050 Print References On May 4, the company began working on two technopresses: Job 102 for Worldwide Company and Job 103 for Reuben Company. a. Purchased raw materials on credit and recorded the following information from receiving reports and invoices. Receiving Report No. 426, Material M, 270 units at $270 each. Receiving Report No. 427, Material R, 90 units at $270 each. Instructions: Record these purchases with a single journal entry. Enter the receiving report information on the materials ledger cards. b. Requisitioned the following raw materials for production Requisition No. 35, for Job 102, 162 units of Material M. Requisition No. 36, for Job 102, 72 units of Material R. Requisition No. 37, for Job 103, 84 units of Material M. Requisition No. 38, for Job 103, 72 units of Material R. Requisition No. 39, for 19 units of paint. Instructions: Enter amounts for direct materials requisitions on the materials ledger cards and the job cost sheets. Enter the indirect materials amount on the materials ledger card. Instructions: Enter amounts for direct materials requisitions on the materials ledger cards and the job cost sheets. Enter the indirect materials amount on the materials ledger card. c. Received the following employee time tickets for work in May. Time tickets Nos. 1 to 10 for direct labor on Job 102, $89,000. Time tickets Nos. 11 to 30 for direct labor on Job 103. $53,000. Time tickets Nos. 31 to 36 for equipment repairs, $20,000. Instructions: Record direct labor from the time tickets on the job cost sheets. d. Paid cash for the following items during the month: factory payroll, $162,000, and miscellaneous overhead items, $126,000. Use the time tickets to record the total direct and indirect labor costs. e. Finished Job 102 and transferred it to the warehouse. The company assigns overhead to each job with a predetermined overhead rate equal to 80% of direct labor cost. Instructions: Enter the allocated overhead on the cost sheet for Job 102, fill in the cost summary section of the cost sheets. f. Delivered Job 102 and accepted the customer's promise to pay $440,000 within 30 days g. Applied overhead cost to Job 103 based on the job's direct labor to date. Required: Complete the materials ledger cards for Material M, Material R, and paint using the information given in part a and b. Complete the job cost sheets for Jobs 102 and 103 using the information given in part a, b, c and e. Prepare journal entries for part a through g. Required: Complete the materials ledger cards for Material M, Material R, and paint using the information given in part a and b. Complete the job cost sheets for Jobs 102 and 103 using the information given in part a, b, c and e. Prepare journal entries for part a through g. 10 points Complete this question by entering your answers in the tabs below. eBook Materials Requisition Job Cost Sheets General Journal Print Complete the materials ledger cards for Material M, Material R, and paint using the information given in part a and b. References Item MATERIALS LEDGER CARD Material M Issued Total Price Requisition Units Unit Price Received Units Unit Price Balance Unit Price Date Receiving Report Total Price Units Total Price May 1 270 270 #426 270 270 72,900 # 35 #37 270 1 62 84 270 270 270 Item Material R Received Unite Unit Price Units Unit Price Receiving Report Issued Units Unit Price Balanc Balance Unit Price Date Total Price Requisition Total Price Units Total Price May 1 #427 9 01 270 24,300 Item MATERIALS LEDGER CARD Material M Issued Total Price Requisition Units Unit Price Received Units Unit Price Balance Units Unit Price Date Receiving Report Total Price Total Price May 1 270 #426 270 270 270 72,900 # 35 #37 1 270 62 84 270 270 270 Item Material R Received Issued Units Unit Price Total Price Requisition Units Unit Price Balance Unit Price Total Price Date Receiving Report Total Price Units May 1 #427 90 270 24,300 Item Received Units Unit Price Paint Issued Total Price Requisition Units Unit Price Date Receiving Report Balance Units Unit Price Total Price Total Price May 1 Materials Requisition Job Cost Sheets General Journal Complete the job cost sheets for Jobs 102 and 103 using the information given in part a, b, c and e. JOB COST SHEET Customer's Name Worldwide Company Direct Materials Direct Labor Requisition Number Amount Time Ticket Number Amount Job No. 102 Overhead Costs Applied Rate % Amount Total Total 0 Summary of Costs Total cost of Job Customer's Name Reuben Company Direct Materials Amount Direct Labor Time Ticket Number Amount Job No. 103 Overhead Costs Applied Rate % Amount Requisition Number Total 0 Total Customer's Name Worldwide Company Direct Materials Requisition Number Amount Direct Labor Time Ticket Number Amount Job No. 102 Overhead Costs Applied Rate % Amount Total 0 Total 0 Total 0 Summary of Costs Total cost of Job Customer's Name Reuben Company Direct Materials Amount Direct Labor Time Ticket Number Amount Job No. 103 Overhead Costs Applied Rate % Amount Requisition Number Total 0 Total 0 Summary of Costs Total cost of Job