Required information Problem 19-3A Source documents, journal entries, and accounts In job order cost accounting LO P1, P2, P3 [The following information applies to the questions displayed below.] Widmer Watercraft's predetermined overhead rate for year 2013 is 200% of direct labor. Information on the company's production activities during May 2013 follows. a. Purchased raw materials on credit, $220.000. b.Paid $129,100 cash for factory wages. c. Paid $15.750 cash to a computer consultant to reprogram factory equipment d. 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 $ 50,000 33,500 19.800 23,000 6,800 133,100 20,500 Total materials used $153.600 e. Time tickets record use of the following labor for the month. Job 136 Job 137 Job 138 Job 139 Job 140 Total direct labor Indirect labor $ 12.100 10.800 37,500 39.400 3,800 103.600 25.500 Total $ 129.100 f. Applied overhead to Jobs 136, 138, and 139. 9. Transferred Jobs 136, 138, and 139 to Finished Goods. h. Sold Jobs 136 and 138 on credit at a total price of $525,000. 1. The company Incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory Insurance). $68.000 Depreciation of factory building Depreciation of factory equipment Explred factory Insurance Accrued property taxes payable 36.500 11,000 36.500 J. Applied overhead at month-end to the Goods In Process (Jobs 137 and 140) using the predetermined overhead rate of 200% of direct labor cost. Problem 19.3A Part 1 lequired: Prepare a job cost sheet for each job worked on during the month. Job No. 136 Job No. 137 Job No. 138 Job No. 139 Job No. 140 Materials Labor Overhead Total cost $ 0 5 0 $ 0 $ 0 $ 0 Widmer Watercraft's predetermined overhead rate for year 2013 is 200% of direct labor. Information on the company's production activities during May 2013 follows. a. Purchased raw materials on credit, $220.000. b.Paid $129,100 cash for factory wages. C. Paid $15.750 cash to a computer consultant to reprogram factory equipment d. Materials requisitions record use of the following materials for the month. Job 136 Job 137 Job 138 Job 139 Job 140 $ 50,000 33,500 19.800 23.000 6.800 Total direct materials Indirect materials 133.100 20,500 Total materials used $153.600 e. Time tickets record use of the following labor for the month. Job 136 Job 137 Job 138 Job 139 Job 140 $12100 10.800 37,500 39,400 3.800 Total direct labor Indirect labor 103.600 25,500 Total $ 129,100 f. Applied overhead to Jobs 136, 138, and 139. g. Transferred Jobs 136, 138, and 139 to Finished Goods. h.Sold Jobs 136 and 138 on credit at a total price of $525.000. 1. 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 $ 68.000 36.500 11,000 36,500 J. Applied overhead at month-end to the Goods In Process (Jobs 137 and 140) using the predetermined overhead rate of 200% of direct labor cost. Problem 19-3A Part 3 3. Prepare T-accounts for each of the following general ledger accounts, each of which started the month with a zero balance: Raw Materials Inventory, Goods In Process Inventory. Finished Goods Inventory. Factory Payroll , Factory Overhead. Cost of Goods Sold. Then post the journal entries to these T-accounts and determine the balance of each account. Raw Materials Inventory Factory Payroll End.bal 0 End.bal 0 Goods in Process Inventory Factory Overhead End.bal 0 End bal Finished Goods Inventory Cost of Goods Sold End.bal 0 End.bal Problem 19-3A 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 Goods in Process Inventory account balance. Prepare similar reports for Finished Goods Inventory and Cost of Goods Sold. Reports of Job Costs Goods in Process Inventory Balance Finished Goods Inventory Balance Cost of Goods Sold Balance $ 0