Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information 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

image text in transcribedimage text in transcribed

Required information 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 a. Purchased raw materials on credit. $220.000 b. Materials requisitions record use of the following materials for the month Job 137 Job 140 Total direct materials Indirect materials Total materials used 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. 37,500 Total direct labor Total e. Applied Overhead to Jobs 136, 138, and 139 Transferred Jobs 136, 138 and 139 to Finished Goods 9. Sold Jobs 136 and 138 on credit at a total price of $535.000 h. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance) 36,500 Depreciation of factory building Depreciation of factory equipment Expired factory insurance Accrued property taxes payable Applied overhead at month-end to the Work in Process Inventory account Jobs 137 and 1401 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 Total cost

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditor Going Concern Reporting A Review Of Global Research And Future Research Opportunities

Authors: Marshall A. Geiger, Anna Gold, Philip Wallage

1st Edition

0367649489, 978-0367649487

More Books

Students also viewed these Accounting questions

Question

What steps should be taken to address any undesirable phenomena?

Answered: 1 week ago