Answered step by step
Verified Expert Solution
Question
1 Approved Answer
pls show calculations if done:) Widmer Watercraft's predetermined overhead rate is 200% of direct labor Information on the company's production activities during May follows a.
pls show calculations if done:)
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. $220,000 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 $ 48,500 32,000 19,400 23,200 7,000 130,100 21.500 $151,600 c. Paid $16,000 cash to a computer consultant to 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 130 Job 139 Job 140 Total direct labor Indirect labor Total $ 12,000 10.800 37.900 39.400 3.000 103.900 25.000 $12.900 tv nd 13 So S88 DU DD 4 A # 3 $ 4 % 5 2 & 7 6 8 9 W E R T O S D F G H K Job 136 Job 137 Job 13 Job 139 Job 149 Total direct labor Indirect labor Total $ 12,000 10,000 37,900 39,400 3.800 103,900 25,000 $128.900 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 $525.000 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 woment Expired factory Insurance Meered property taxes payable 568,500 36.500 10,000 36,500 L.Applied overhead at month-end to the Work in Process inventory account Jobs t37 and 540) using the predetermined overhead rate of 200% of direct labor cost. 3. Past the journal entries for the transactions to the following accounts.cach of which started the month with a zero balance tv BO 08 DD . BIL VE N $ 4 % 5 & 7 6 8 9 0 W E R T Y U 0 S DF G H J L 3. Post the journal entries for the transactions to the following T-accounts, each of which started the month with a zero balance Raw Materials inventory 220,000 151,600 b. d Work in Process Inventory 130,100 103,900 fe Endbal 68,400 End by 55,600 Factory Overhead Finished Goods Inventory End.bal 0 End bal D Cost of Goods Sold Endal . le BO 888 F 10 3 $ 4 % 5 & 7 2 6 8 9 o W E R T Y U O IL S F . z B N M Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started