Sager Company builds custom retaining walls for large commercial customers. On May 1, the company had no inventories of work in process or finished goods but held the following raw materials. Cinder block Boulders Stain (indirect materials) Total 350 units @ $280 - 100 units @ 250 = 65 units @ 85 - $ 98,000 25,000 5,525 $ 128,525 On May 4, the company began work on Job 102 for Woz Company and Job 103 for Reuben Company. Required: 1. Prepare job cost sheets for Jobs 102 and 103. Prepare three materials ledger cards for cinder blocks, boulders, and stain. Enter the beginning raw materials inventory amounts from above for each of these materials on their ledger cards. Then, follow the instructions in this list of activities to complete the job cost sheets and the materials ledger cards. a. Purchased raw materials on credit and recorded the following information from receiving reports. Receiving Report Number 426, cinder blocks, 280 units at $280 each. Receiving Report Number 427, boulders, 95 units at $250 each. Instructions: Enter the receiving report information on the materials ledger cards. b. Requisitioned the following raw materials for production. Requisition Number 35, for Job 102, 189 units of cinder blocks. Requisition Number 36, for Job 102, 72 units of boulders. Requisition Number 37, for Job 103, 98 units of cinder blocks. Requisition Number 38, for Job 103, 76 units of boulders. Requisition Number 39, for 21 units of stain. Instructions: Enter amounts for direct materials requisitions on the materials ledger cards and the job cost sheets. Enter the indirect materials amount on the materials ledger card. c. Received the following employee time tickets for work in May. Time tickets Numbers 1 to 10 for direct labor on Job 102, $86,000. Time tickets Numbers 11 to 30 for direct labor on Job 103, $63,000. Time tickets Numbers 31 to 36 for indirect labor, $23,750. Instructions: Record direct labor from the time tickets on the job cost sheets. d. Finished Job 102. The company applies overhead to each job with a predetermined overhead rate of 80% of direct labor cost. Instructions: Enter the applied overhead on the cost sheet for Job 102, fill in the cost summary section of the cost sheet, and then mark the cost sheet "Finished." e. Applied overhead cost to Job 103 based on the job's direct labor used to date. Instructions: Enter applied overhead on the job cost sheet for Job 103. 2. Job 102 was sold on credit for $410,000. Compute gross profit for the month. 3. Determine the balances reported on the month-end balance sheet for Raw Materials Inventory and Work in Process Inventory. Complete this question by entering your answers in the tabs below. Required 1 Job Required 1 Cost Sheets Materials Requisition Required 2 Required 3 Prepare job cost sheets for Jobs 102 and 103 using the information given in part a, b, c and e. JOB COST SHEET Customer's Name Woz Company Job 102 Number Overhead Rate % Cost Requisition Number Direct Materials Direct Labor Time Ticket Cost Cost Number 80,514 X #1-10 $ 86,000 30,744 X #35 $ 80% $ $ 68,800 #36 Total $ 111,258 Total $ 86,000 68,800 Summary of Costs Direct Materials $ Direct Labor Overhead 111,258 X 86,000 68,800 266,058 Total cost of Job $ Customer's Name Reuben Company 103 Job Number Overhead Requisition Number Rate % Cost Direct Materials Direct Labor Time Ticket Cost Cost Number $ 41,748 #11-30 $ 63,000 32,452 X #37 80% $ 50,400 O #38 Total $ 74,200 Total $ 63,000 50,400 Summary of Costs Direct Materials $ Direct Labor Overhead Total cost of Job $ 74,200 X 63,000 50,400 187,600 Return to question Required 1 Job Required 1 Cost Sheets Materials Required 2 Required 3 Requisition Prepare three materials ledger cards for cinder blocks, boulders, and stain using the information given in part a and b. Item MATERIALS LEDGER CARD Cinder blocks Issued Total Unit Requisition Units Price Price Date Received Unit Price Receiving Report Balance Unit Price Units Total Price Units Total Price | May 1 $ 0 #426 $ 0 0 #35 0 #37 0 Item Boulders Date Receiving Report Received Unit Units Price Total Price Issued Unit Units Price Balance Unit Price Total Price Requisition Units Total Price | May 1 $ 0 #427 $ 0 0 #36 0 #38 0 Item Stain Date Receiving Report Received Unit Units Price Total Price Issued Units Unit Price Balance Unit Price Total Price Requisition Units Total Price May 1 $ 0 #39 $ 0 0 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Job Cost Sheets Required 1 Materials Requisition Required 2 Required 3 Job 102 was sold on credit for $410,000. Compute gross profit for the month. Sales Cost of goods sold Gross profit OOO $ 0 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Job Cost Sheets Required 1 Materials Requisition Required 2 Required 3 Determine the balances reported on the month-end balance sheet for Raw Materials Inventory and Work in Process Inventory. Raw materials inventory Work in process inventory