Problem 02-3A Source documents, journal entries, and accounts in job order costing LO P1, P2, P3 [The following information applies to the questions displayed below.] Widmer Watercrafts predetermined overhead rate is 200% of direct labor. Information on the companys production activities during May follows. Purchased raw materials on credit, $220,000. Materials requisitions record use of the following materials for the month. Job 136 $ 49,000 Job 137 32,000 Job 138 19,800 Job 139 22,600 Job 140 6,600 Total direct materials 130,000 Indirect materials 20,000 Total materials used $ 150,000 Paid $15,500 cash to a computer consultant to reprogram factory equipment. Time tickets record use of the following labor for the month. These wages were paid in cash. Job 136 $ 12,200 Job 137 10,600 Job 138 37,900 Job 139 39,200 Job 140 3,400 Total direct labor 103,300 Indirect labor 26,000 Total $ 129,300 Applied overhead to Jobs 136, 138, and 139. Transferred Jobs 136, 138, and 139 to Finished Goods. Sold Jobs 136 and 138 on credit at a total price of $540,000. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance). Depreciation of factory building $ 69,500 Depreciation of factory equipment 38,000 Expired factory insurance 10,000 Accrued property taxes payable 35,500 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 02-3A

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	0
Finished Goods Inventory
Balance	0
Cost of Goods Sold
Balance	$0