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Required information [The following information applies to the questions displayed below.] Widmer Watercraft's predetermined overhead rate for year 2013 is 200% of direct labor. Information
Required information [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 $127,400 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 $49,000 Job 137 32,500 Job 138 20,000 Job 139 23,000 Job 140 6,600 Total direct materials 131,100 Indirect materials 20,000 Total materials used $151,100 e. Time tickets record use of the following labor for the month. Job 136 $ 12,000 Job 137 10,500 Job 138 37,900 Job 139 39,200 Job 140 3,800 Total direct labor 103,400 Indirect labor 24,000 Total $127,400 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 $530,000. i. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance). Depreciation of factory $68,000 building Depreciation of factory 36,500 equipment Expired factory insurance 11,000 Accrued property taxes 35,000 payable 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. Required: 1. 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 $ 0 $ 0 $ 0 $ 0
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