! Required information 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 Watercraft's predetermined overhead rate is 200% of direct labor Information on the company's production activities during May follows 0. 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 Totol materials used 550,000 33,000 19.606 23,200 6.600 132.400 21,000 $153,400 c. Paid $15,250 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 Dob 140 Total direct labor Indirect labor Total $ 12,300 10,800 37,900 39,600 3,600 104,200 26,000 $130,200 e. Applied overhead to Jobs 136, 138, and 139 1. Transferred Jobs 136, 138, and 139 to Finished Goods g. Sold Jobs 136 and 138 on credit at a total price of $540.000, h. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance) Depreciation of factory building $70,000 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 $540,000. 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 equipment Expired factory insurance Accrued property taxes payable $70,000 37,000 12,000 36,500 i. 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 2 2. Prepare journal entries to record the events and transactions a through / Problem 02-3A Part 2 2. Prepare journal entries to record the events and transactions a through / View transaction list Journal entry worksheet 7 12 9 Record the transfer of completed jobs 136,138 and 139 to finished goods. Note: Enter debits before credits. Transaction General Journal Debit Credit f Record entry Clear entry View general journal ! Required information UU. LILY EVINRICUL Record the entry for sales on account for Jobs 136 and 138. Note: Enter debits before credits. Transaction General Journal Debit Credit g(1) Record entry Clear entry View general journal Required information IRUNCHY VLNIU 9 10 Record the entry for the cost of sales of Jobs 136 and 138. Note: Enter debits before credits. General Journal Debit Credit Transaction g(2) Record entry Clear entry View general journal D Required information TOILU UUERRA UIT Record other factory overhead (depreciation, insurance and property taxes). Note: Enter debits before credits. Transaction General Journal Debit Credit h. Record entry Clear entry View general journal 0 Required information vuru YwUrkur
