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Required information The following information applies to the questions displayed below] 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, $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 $ 49,000 33,000 19,800 22,600 6,600 131,000 20,000 $151,000 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 $ 12,200 10,600 37,990 39,000 3,600 103,300 26,500 $129,820 Job 140 Total direct labor Indirect labor Total 3,600 103,300 26,500 $129,800 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 $70,000 Depreciation of factory equipment 38,000 Expired factory insurance 10,000 Accrued property taxes payable 36,000 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. Problem 15-3A Part 2 Prepare journal entries to record the events and transactions a through 2. Prepare journal entries to record the events and transactions a through View transaction list Journal entry worksheet 1 10 > Record the requisition of direct and indirect materials. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general Journal 2. Prepare journal entries to record the events and transactions a through View transaction list Journal entry worksheet > Record payment to computer consultant to reprogram factory equipment. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal 2. Prepare journal entries to record the events and transactions a through 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 This is a numeric cell, so please enter numbers only. Record entry Clear entry View general journal I JUUIT envies recora the events and transactions a through View transaction list Journal entry worksheet Ko @ 6 0 5 0 O O O 10 > Record the entry to apply overhead to jobs 136, 138 and 139. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general Journal 2. Prepare journal entries to record the events and transactions a through View transaction list Journal entry worksheet Record the transfer of completed jobs 136,138 and 139 to finished goods. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 2. Prepare journal entries to record the events and transactions a through View transaction list Journal entry worksheet Record the entry for sales on account for Jobs 136 and 138. Note: Enter debits before credits General Journal Debit Credit Transaction g(1). Record entry Clear entry View general journal 2. Prepare journal entries to record the events and transactions a through View transaction list Journal entry worksheet Record the entry for sales on account for Jobs 136 and 138. Note: Enter debits before credits General Journal Debit Credit Transaction g(1). Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the entry for the cost of sales of Jobs 136 and 138. Note: Enter debits before credits. General Journal Debit Credit Transaction g(2). Record entry Clear entry View general journal u junu mes record the events and transactions a through View transaction list Journal entry worksheet Record other factory overhead (depreciation, insurance and property taxes). Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 2. Prepare journal entries to record the events and transactions a through View transaction list Journal entry worksheet Record the entry to apply overhead to Jobs 137 and 140 (Work in Process). Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal
