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Problem 19-3A Source documents, journal entries, and accounts in job order costing LO P1, P2, P3 [The following information applies to the questions displayed below.]

Problem 19-3A 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 for the year 2017 is 200% of direct labor. Information on the companys production activities during May 2017 follows.

Purchased raw materials on credit, $220,000.

Materials requisitions record use of the following materials for the month.

Job 136 $50,000
Job 137 33,500
Job 138 19,400
Job 139 22,800
Job 140 6,600
Total direct materials

132,300

Indirect materials 20,500
Total materials used $152,800

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 10,500
Job 138 37,700
Job 139 39,200
Job 140 3,400
Total direct labor 103,000
Indirect labor 25,500
Total $128,500

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 $525,000.

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 37,000
Expired factory insurance 11,000
Accrued property taxes payable 35,000

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.

rev: 02_01_2017_QC_CS-77139

Problem 19-3A Part 1

Required: 1. Prepare a job cost sheet for each job worked on during the month.

Problem 19-3A 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 for the year 2017 is 200% of direct labor. Information on the companys production activities during May 2017 follows.

Purchased raw materials on credit, $220,000.

Materials requisitions record use of the following materials for the month.

Job 136 $50,000
Job 137 33,500
Job 138 19,400
Job 139 22,800
Job 140 6,600
Total direct materials

132,300

Indirect materials 20,500
Total materials used $152,800

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 10,500
Job 138 37,700
Job 139 39,200
Job 140 3,400
Total direct labor 103,000
Indirect labor 25,500
Total $128,500

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 $525,000.

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 37,000
Expired factory insurance 11,000
Accrued property taxes payable 35,000

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.

rev: 02_01_2017_QC_CS-77139

Problem 19-3A Part 2

2. Prepare journal entries to record the events and transactions a through i.

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