Sager Company manufactures variations of its product, a technopress, in response to custom orders from its customers. On May 1, the company had no inventories of work in process or nished goods but held the following raw materials. Material M 300 units E 5250 I 3 ?5,000 Material R 115 units E 190 I 21,950 Paint 00 units E ES 2 6,000 Total cost $103,650 On May 4, the company began working on two technopresses:.lol:r102 for Worldwide Company and Job 103 for Reuben Company. a. Purchased raw materials on credit and recorded the following information from receiving reports and invoices. Receiving Report No. 426. Material M. 250 units at $250 each. Receiving Report No. 42?, Material R. 110 units at $190 each. Instructions: Record these purchases with a singlejournal entry. Enter the receiving report information on the materials ledger cards. b. Requisitioned the following raw materials for production. Requisition No. 35. for Job 102, 162 units of Material M. Requisition No. 36. for Job 102, 72 units ofMaterial R. Requisition No. 37. for Job 103. 84 units of Material M. Requisition No. 38, for Job 103. 87 units of Material R. Requisition No. 39, for 23 units of paint. Instructions: Enter amounts for direct materials requisitions on the materials ledger cards and thejob cost sheets. Enter the indirect materials amount on the materials ledger card. 1:. Received the following employee time tickets for work in May. Time tickets Nos. 1 to 10 for direct labor on Job 102, $84,000. Time tickets Nos. 11 to 30 for direct labor on Job 103, $61,000. Time tickets Nos. 31 to 36 for equipment repairs, $24,500. Instructions: Record direct labor from the time tickets on the job cost sheets. d. Paid cash for the following items during the month: factory payroll, $169,500, and miscellaneous overhead items, $118,000. Use the time tickets to record the total direct and indirect labor costs. e. Finished Job 102 and transferred it to the warehouse. The company assigns overhead to each job with a predetermined overhead rate equal to 80% of direct labor cost. Instructions: Enter the allocated overhead on the cost sheet for Job 102, ll in the cost summary section of the cost sheets. f. Delivered Job 102 and accepted the customers promise to pay $410,000 within 30 days. :1. Applied overhead cost to Job 103 based on the iob's direct labor to date. Required: Complete the materials ledger cards for Material M, Material R, and paint using the information given in part a and b. Complete the job cost sheets for Jobs 102 and 103 using the information given in part a, b, c and e. Prepare journal entries for part a through g. Complete this question by entering your answers in the tabs below. Materials Job Cost General Requisition Sheets Journal Complete the materials ledger cards for Material M, Material R, and paint using the information given in part a and b. MATERIALS LEDGER CARD Item Material M Received Issued Balance Date Receiving Units Unit Price Total Price Requisition | Units Unit Price Total Price Units Unit Price Total Price Report May 1Item Material R Received Issued Balance Receiving Date Report Units Unit Price Total Price Requisition Units Unit Price Total Price Units Unit Price Total Price May 1 Item Paint Received Issued Balance Receiving Date Units Unit Price Total Price Requisition Units Unit Price Total Price Units Unit Price Total Price Report May 1 Materials Job Cost General Requisition Sheets Journal Prepare journal entries for part a through g. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 5 6 7 8 Record the purchase of raw materials on credit from the receiving reports and invoices given in letter a). Record these purchases with a single journal entry. Note: Enter debits before credits. Transaction General Journal Debit Credit aRecord entry Clear entry View general journal Record the use of direct and indirect materials based on the materials requisitions given in letter b). Note: Enter debits before credits. Transaction General Journal Debit Credit b. Record entry Clear entry View general journalJournal entry worksheet