prepare a job cost sheet , prepare a journal entry to record the transactions A through I , T accounts and report showing the finished good inventory and cost of goods sold 1.

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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, $220,000. b. Materials requisitions record use of the following materials for the month 49,500 33,500 19,600 23,200 7,200 133,000 20,000 153,000 Job 136 Job 137 Job 138 Job 139 Job 140 Total direct materials Indirect materials Total materials used c. Paid $15,500 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 10,700 37,700 39, 200 ,200 103,000 128,500 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 $535,000. h. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance). Depreciation of factory building68,500 Depreciation of factory equipment Expired factory insurance Accrued property taxes payable 37,000 12,000 35,500 L 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. Required: 1. Prepare a job cost sheet for each job worked on during the month. Labor Overhead Total cost 2. Prepare journal entries to record the events and transactions a through i View transaction list Journal entry worksheet 12 3 456 7 8 910 Record raw material purchases on credit. Note: Enter debits before credits Debit Credit ransaction General Journal a. Record entry Clear entry View general journal 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 Work in Process Inventory End.bal. End.bal Factory Overhead Finished Goods Inventory End.bal. End.bal. Cost of Goods Sold End.bal. 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 Balance Cost of Goods Sold Balance