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Please answer all worksheets associated with question. Sager Company manufactures variations of its product, a technopress, in response to custom orders from its customers. On
Please answer all worksheets associated with question.
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. Material M Material R Paint 300 units 135 units 75 units @ @ $280 190 100 $ 84,000 25,650 7,500 $117,150 Total cost 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, 280 units at $280 each. Receiving Report No. 427. Material R. 130 units at $190 each. Instructions: Record these purchases with a single journal entry. Enter the receiving report information on the materia's edger 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, 102 units of Material R. Requisition No. 39, for 29 units of paint. Instructions: Enter amounts for direct materials requisitions on the materials ledger cards and thejob cost sheets. Enter the indirect materials amount on the materials ledger card. Receiving Report No.426, Material M, 280 units at $280 each. Receiving Report No. 427, Material R, 130 units at $190 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, 102 units of Material R. Requisition No. 39, for 29 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. c. Received the following employee time tickets for work in May. Time tickets Nos. 1 to 10 for direct labor on Job 102, $83,000. Time tickets Nos. 11 to 30 for direct labor on Job 103, $65,000. Time tickets Nos. 31 to 36 for equipment repairs: $23.750. Instructions: Record direct labor from the time tickets on the job cost sheets. Time tickets Nos. 1 to 10 for direct labor on Job 102, $83,000. Time tickets Nos. 11 to 30 for direct labor on Job 103, $65,000. Time tickets Nos. 31 to 36 for equipment repairs, $23,750. 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, $171,750, and miscellaneous overhead items, $106,000. Use the time tickets to record the total direct and indirect labor costs. e. Finished Job 102 and transferred it to the warehouse. The colpany 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 $540,000 within 30 days. g. Applied overhead cost to Job 108 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. Complete this question by entering your answers in the tabs below. Materials Job Cost ht General Tural Materials Requisition Job Cost Sheets General Journal Complete the materials ledger cards for Material M, Material R, and paint using the information given in part a and b. MATERIALS LEDGER CARD Item Material M Received Issued Balance Date Receiving Report Units Unit Price Total Price Requisition Units Unit Price Total Price Units Unit Price Total Price May 1 um Material R Received Issued Balance Total Price Units Unit Price Unit Price Total Price Date Receiving Report Units Unit Price Total Price Requisition Units May 1 Paint Item Issued Balance Received Unit Price Total Price Units Unit Price Total Price Date Receiving Report Units Unit Price Total Price Requisition Units May 1 Job Cost Sheets > 2 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. Customer's Name JOB COST SHEET Worldwide Company Direct Materials Direct Labor Amount Time Ticket Number Amount 2:43:54 Job No. 102 Overhead Costs Applied Rate % Amount Requisition Number Book Total Total ferences Summary of Costs Total cost of Job Customer's Name Reuben Company Direct Materials Direct Labor Job No. 103 Overhead Costs Applied Rate % Amount Time Ticket Number Amount Amount Requisition Number Total Total Summary of Costs Total cost of Job Materials Requisition Job Cost Sheets Gerral Journal Prepare joumal entries for part a through g. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 3 4 5 6 7 8 > Record the purchase of raw materials on credit from the receiving reports and invoices given in letter a). Record these purchases with a single journal entry. Note: Enter debits before crediks. Debit General Journal Transaction Credit Record entry Clear entry View general journal Materials Requisition Job Cost Sheets General Journal Prepare journal entries for part a through g. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 3 4 5 6 7 8 > Record the use of direct and indirect materials based on the requisitions given in letter b). aterials Noter entendebes before credits Transaction General Journal Debit Credit Record entry Clear en View general journal ob Cosu Sheets Materials Requisition Job Cost Sheets General Journal Prepare journal entries for part a through g. (If no entry is required for a transaction/event, select "No journal entry account field.) View transaction list Journal entry worksheet 1 2 4 5 6 7 8 Record the payment of factory payroll using the time tickets given in letter c). Note: Enter debits before aredik Transaction General Journal Debit Credit Record entry Clear entry View general journal { Joh Cost Sheets Materials Requisition Job Cost Sheets General Journal Prepare journal entries for part a through g. (If no entry is required for a transaction/event, select "No jourr account field.) View transaction list Journal entry worksheet 1 2 5 6 7 8 A Record miscellaneous overhead items, paid in cash. No enten debits before gredie Transaction Ceneral Journal Debit Credit Record entry TE Clear entry View general journal Job Cos Sheets Materials Requisition Job Cost Sheets General Journal Prepare journal entries for part a through g. (If no entry is required for a transaction/event, select "No journ account field.) View transaction list Journal entry worksheet 2 3 6 7 8 Record the completion of Job 102 and its transfer to Finished Goods. Wolets before credits Transaction General Journal Debit Credit IP View general Journal Recond en Clear entre Job Cose Sheets Materials Requisition Job Cost Sheets General Journal Prepare journal entries for part a through g. (If no entry is required for a transaction/event, select "No journal entry account field.) View transaction list Journal entry worksheet 2 3 4 5 6 7 8 Delivered Job 102 and accepted the customer's promise to pay $540,000 within 30 days. en enten dette before crediks. CHANNSCINI Ceneral Joumal Debit Credit > Hecord en UV Clean entre View general journal Moldog Shoes Materials Requisition Job Cost Sheets General Journal Prepare journal entries for part a through g. (If no entry is required for a transaction/event, select "No journal account field.) View transaction list Journal entry worksheet 6Step by Step Solution
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