Required information Problem 19 3A Source documents, journal entries, and accounts in job order costing LO P1, P2, P3 Skip to question 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 32,500 Job 138 20,000 Job 139 22,400 Job 140 7,000 Total direct materials 130,900 Indirect materials 20,000 Total materials used $ 150,900 Paid $15,250 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 $ 12,100 Job 137 10,500 Job 138 38,100 Job 139 39,200 Job 140 3,200 Total direct labor 103,100 Indirect labor 25,500 Total $ 128,600 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 $535,000 The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance) Depreciation of factory building $ 68,500 Depreciation of factory equipment 37,500 Expired factory insurance 12,000 Accrued property taxes payable 36,500 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 19 3A Part 1 Required 1 Prepare a job cost sheet for each job worked on during the month 2 Prepare journal entries to record the events and transactions a through i 3 Post the journal entries for the transactions to the following T accounts, each of which started the month with a zero balance 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

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Required information Problem 19-3A Source documents, journal entries, and accounts in job order costing LO P1, P2, P3 Skip to question [The following information applies

Required information

Problem 19-3A Source documents, journal entries, and accounts in job order costing LO P1, P2, P3

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[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		32,500
Job 138		20,000
Job 139		22,400
Job 140		7,000
Total direct materials		130,900
Indirect materials		20,000
Total materials used	$	150,900

Paid $15,250 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	$	12,100
Job 137		10,500
Job 138		38,100
Job 139		39,200
Job 140		3,200
Total direct labor		103,100
Indirect labor		25,500
Total	$	128,600

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 $535,000.
The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance).


Depreciation of factory building	$	68,500
Depreciation of factory equipment		37,500
Expired factory insurance		12,000
Accrued property taxes payable		36,500

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 19-3A Part 1

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

2. Prepare journal entries to record the events and transactions a through i. 3. Post the journal entries for the transactions to the following T-accounts, each of which started the month with a zero balance.

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.