Problem 19-4A (Algo) Preparing job cost sheets, recording costs, preparing inventory ledger accounts LO P1, P2, P3 Skip to question [The following information applies to the questions displayed below.] 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 $ 49,500 33,500 19,200 22,600 6,400 131,200 19,500 Total materials requisitions $ 150,700 c. Time tickets record use of the following labor for the month. These wages were paid in cash. Job 136 Job 137 Job 138 $ 12,300 10,700 37,900 Job 139 39,200 Job 140 3,800 Total direct labor 103,900 Indirect labor 25,500 Total labor cost $ 129,400 d. Applied overhead to Jobs 136, 138, and 139. e. Transferred Jobs 136, 138, and 139 to Finished Goods Inventory. f. Sold Jobs 136 and 138 on credit at a total price of $530,000. g. Recorded the cost of goods sold for Jobs 136 and 138. h. Incurred the following actual other overhead costs during the month. Depreciation of factory building $ 69,000 Depreciation of factory equipment Expired factory insurance Accrued property taxes payable 37,000 11,000 35,500 i. Applied overhead at month-end to the Work in Process Inventory account (for Job 137 and 140) using the predetermined overhead rate of 200% of direct labor cost. Print References Problem 19-4A (Algo) Part 1 Required: 1. Prepare a job cost sheet for each job worked on during the month. Job Number 136 Job Number 137 Job Number 138 Job Number 139 Job Number 140 Materials Labor Overhead Total cost $ 0 $ 0 $ 0 $ 0 $ 0 View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 11 Record raw material purchases on credit. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal Raw Materials Inventory Ending balance 0 Ending balance Work in Process Inventory Ending balance 0 Factory Overhead Finished Goods Inventory 0 Cost of Goods Sold Ending balance 0 Ending balance Problem 19-4A (Algo) Part 4 4. (a) Compute the total cost of each job in process and prove that the sum of their costs equals the Work in Process Inventory account balance. (b) Compute the total cost of each job finished but not sold, and prove that the sum of their costs equals the Finished Goods Inventory balance. (c) Compute the total cost of each job sold, and prove that the sum of their costs equals the Cost of Goods Sold balance. Total Job Costs (a) Work in Process Inventory Balance (b) Finished Goods Inventory 0 Balance 0 (c) Cost of Goods Sold Balance