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 200 units $270 - $ 54,000 Boulders 135 units 220 - 29,700 Stain (indirect materials) 60 units 120 - 7.200 Totat $ 99,900 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, 270 units at $270 each. Receiving Report Number 427, boulders, 130 units at $220 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, 108 units of cinder blocks Requisition Number 36, for Job 102.72 units of boulders. Requisition Number 37, for Job 103,56 units of cinder blocks. Requisition Number 38, for Job 103, 102 units of boulders. Requisition Number 39, for 17 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. $88,000 Time tickets Numbers 11 to 30 for direct labor on Job 103, $50,000 Time tickets Numbers 31 to 36 for indirect labor, $22.250. 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. 22 inte Time tickets Numbers 1 to 10 for direct labor on Job 102, 580,000 Time tickets Numbers 11 to 30 for direct labor on Job 103, $50,000 Time tickets Numbers 31 to 36 for indirect labor, $22.250. 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 B0% of direct labor cost. Instructions Enter the applied overhead on the cost sheet for Job 102, 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 $480.000. 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 BOOM Complete this question by entering your answers in the tabs below. Required 1 Job Required 1 Materials Cost Sheets Required 2 Required Requisition 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 Wer Company Direct Materials Cost Requisition Number Direct Labor Time Ticket Number Job Number 102 Overhead Hate Cost Cost 435 Tot 5 O. Total 5 0 Summary of Couts L s vu len. 22 Lost Sheets Requisition 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 Wox Company Direct Materials Cost Job Number 102 Overhead Rate % Gost Direct Labor Time Ticket Number Requisition Number Cost 835 Book Total $ O Total $ 0 0 erences Summary of Costs Total cost of Job $ Customer's Name Reuben Company Direct Materials Cost Job Number 103 Overhead Rate % Cost Direct Labor Time Ticket Number Requisition Number Cost Total 0 0 $ $ O Total Summary of Costs Total cost of Job $ Required 1 Materials Requisition > 2 Requisition Prepare three materials ledger cards for cinder blocks, boulders, and stain using the information given in part a and b. MATERIALS LEDGER CARD Item Cinder blocks Received Issued Balance Date Receiving Units Unit Price Total Price Requisition Units Unit Price Total Price Units Unit Price Total Price Report May 1 200 270 $ 54,000 0426 27015 270 $72.900 470 2701 125.900 W35 100 0 W37 56 0 ook nes Item Date Recalving Report May 1 Boulders Received sued Balance Unita Unit Price Total Price Requisition Units Unit Price Total Price Unit Unit Price Total Price 135 S 220 $29.700 130 $ 220 $ 28,600 265 20 58,300 136 72 0 638 102 0 0427 Item Date Recelving Report Stain Recelved Issued Balance Units Unit Price Total Price Requisition Units Unit Price Total Price Units Unit Price Total Price 60 120 $ 7,200 039 17 $ 0 431 May 1 Required 1 Job Ceat Sheets Required 2 > 2. Job 102 was sold on credit for $480,000. Compute gross profit for the month. 3. Determine the balances reported on the month-end balance sheet for Raw Materials Inventory and Complete this question by entering your answers in the tabs below. Required 1 Job Required 1 Cost Sheets Materials Required 2 Required 3 Requisition Job 102 was sold on credit for $480,000. Compute gross profit for the month. $ 0 Prou reported on the month-end balance sheet for Ran 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 Mate Raw materials inventory Work in process inventory 2 Requisition Prepare three materials ledger cards for cinder blocks, boulders, and stain using the information given in part a and b. MATERIALS LEDGER CARD Item Cinder blocks Received Issued Balance Date Receiving Units Unit Price Total Price Requisition Units Unit Price Total Price Units Unit Price Total Price Report May 1 200 270 $ 54,000 0426 27015 270 $72.900 470 2701 125.900 W35 100 0 W37 56 0 ook nes Item Date Recalving Report May 1 Boulders Received sued Balance Unita Unit Price Total Price Requisition Units Unit Price Total Price Unit Unit Price Total Price 135 S 220 $29.700 130 $ 220 $ 28,600 265 20 58,300 136 72 0 638 102 0 0427 Item Date Recelving Report Stain Recelved Issued Balance Units Unit Price Total Price Requisition Units Unit Price Total Price Units Unit Price Total Price 60 120 $ 7,200 039 17 $ 0 431 May 1 Required 1 Job Ceat Sheets Required 2 > 2. Job 102 was sold on credit for $480,000. Compute gross profit for the month. 3. Determine the balances reported on the month-end balance sheet for Raw Materials Inventory and Complete this question by entering your answers in the tabs below. Required 1 Job Required 1 Cost Sheets Materials Required 2 Required 3 Requisition Job 102 was sold on credit for $480,000. Compute gross profit for the month. $ 0 Prou reported on the month-end balance sheet for Ran 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 Mate Raw materials inventory Work in process inventory