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Problem 15-3A Source documents, journal entries, and accounts in job order costing LO P1, P2, P3 The following information applies to the questions displayed below) Widmer Watercraft's predetermined overhead rate is 200% of direct labor Information on the company's production activities during May follows. 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 Total direct materials Indirect materials Total materials used $ 49,500 32,500 20,200 22.400 7,200 131,800 20.000 $ 151,800 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 Total direct labor Indirect labor Total $ 12,100 10,800 37,700 39,600 3,400 103,600 25,500 $129,100 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 $530,000. 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 37,500 11,000 36,500 1. 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. Guneral toumill Babil 1 a 240,000 Raw materials inventory Accounts payable 240,000 2 b. Work in process inventory Factory overhead Raw materials inventory 131,800 20,000 151,800 3 C 18,750 Factory overhead Cash 18,750 4 d Work in process inventory Factory overhead Cash 103,600 25,500 129,100 5 178,800 e Work in process inventory Factory overhead 178,800 4 d Work in process inventory Factory overhead Cash 103,600 25,500 129,100 5 e 178,800 Work in process inventory Factory overhead 178,800 6 360,300 Finished goods inventory Work in process inventory 360,300 7 9(1) 535,000 Accounts receivable Sales 535,000 8 9(2) 219,100 Cost of goods sold Finished goods inventory 219.100 9 h 154,000 Factory overhead Accum depreciation Factory building Accum depreciation Factory equipment 69.000 37,500 Required information Raw Materialen Wardrocannon End.bal End.bal. 0 Factory Overhead Finished Goods Inventory End bal End bal 0 Cost of Goods Sold Problem 15-3A Part 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 Report of Job Costs Work in Process Inventory Balance Finished Goods Inventory 0 Balance Cost of Goods Sold Balance 0