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 finished goods but held the following raw materials.

On May 4, the company began working on two technopresses: Job 102 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, 280 units at $280 each. Receiving Report No. 427, Material R, 120 units at $200 each. Record these purchases with a single journal 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 of Material R. Requisition No. 37, for Job 103, 84 units of Material M. Requisition No. 38, for Job 103, 95 units of Material R. Requisition No. 39, for 17 units of paint. 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 Nos. 1 to 10 for direct labor on Job 102, $89,000. Time tickets Nos. 11 to 30 for direct labor on Job 103, $57,000. Time tickets Nos. 31 to 36 for equipment repairs, $23,750. Record direct labor from the time tickets on the job cost sheets.

D. Paid cash for the following items during the month: factory payroll, $169,750, and miscellaneous overhead items, $114,000. 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.

Enter the allocated overhead on the cost sheet for Job 102, fill in the cost summary section of the cost sheets.

F. Delivered Job 102 and accepted the customers promise to pay $470,000 within 30 days.

G. Applied overhead cost to Job 103 based on the jobs 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.

e $280 84,000 e 200 Material M 300 units 125 units Material R 25,000 11,400 Paint 95 units @ 120 $120,400 Total cost Complete this question by entering your answers in the tabs below. General Materials Requisition Job Cost 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 Material M Item Received Issued Balance Receiving Report Total Price Requisition Total Price Date Units Unit Price Units Unit Price Total Price Units Unit Price 300 May 1 280 84,000 280 # 426 280 580 280 78,400 162,400 #35 162 280 45,360 418 280 117,040 334 84 280 #37 280 23,520 93,520 Material R Item Received Issued Balance ng Renort Units Unit Price Total Price Unit Price Date Units Total Price Requisition Units Unit Price Total Price 125 245 173 200 25,000 May 1 # 427 120 200 24,000 200 49,000 200 #36 72 200 14,400 34,600 200 78 #38 15,600 95 200 19,000 Item Paint Received Issued Balance Receiving Report Units Unit Price Total Price Requisition Unit Price Units Unit Price Total Price Date Units Total Price 95 120 May 1 11,400 17 120 #39 9,360 120 2,040 78 Job Cost Sheets Materials Reguisition Complete this question by entering your answers in the tabs below. Materials Job Cost Sheets General Journal Requisition Complete the job cost sheets for Jobs 102 and 103 using the information given in part a, b, c and e. JOB COST SHEET Worldwide Company Customer's Name Job No. 102 Overhead Costs Applied Direct Materials Direct Labor Requisition Number Amount Time Ticket Number Amount Rate % Amount #35 45,360 #1-10 89,000 80% 71,200 # 36 0% 14,400 0 59,760 Total Total 89,000 71,200 Summary of Costs Direct Materials 59,760 Direct Labor 89,000 71,200 Overhead Total cost of Job 219,960 Customer's Name Reuben Company Job No. 103 Overhead Costs Applied Direct Materials Direct Labor Requisition Number Amount Time Ticket Number Amount Rate % Amount #37 23,520 #11-30 57,000 80% 45,600 #38 19,000 09% 0 42,520 Total 45,600 57,000 Total Summary of Costs Direct Materials 42,520 57,000 Direct Labor Overhead 45,600 145,120 Total cost of Job General Journal> Materials Requisition Journal entry worksheet 2 7 1 3 4 5 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 Raw materials inventory 102,400 a. Accounts payable 102,400 Record entry View general journal Clear entry Journal entry worksheet 7 2 3 4 5 8 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 View general journal Record entry Clear entry CO Journal entry worksheet 1 2 3 4 5 7 Record the payment of factory payroll using the time tickets given in letter c) Note: Enter debits before credits. Transaction General Journal Debit Credit C. Record entry Clear entry View general journal Journal entry worksheet 1 7 2 3 4 Record miscellaneous overhead items, paid in cash Note: Enter debits before credits. Transaction General Journal Debit Credit View general journal Record entry Clear entry CO LO Journal entry worksheet 7 1 2 4 5 Record the completion of Job 102 and its transfer to Finished Goods. Note: Enter debits before credits. Transaction General Journal Debit Credit e. Record entry Clear entry View general journal CO LO Journal entry worksheet 1 2 3 4 5 Record cost of goods sold for Job 102. Note: Enter debits before credits. Transaction General Journal Debit Credit (2) Record entry Clear entry View general journal 7 CO Journal entry worksheet 2 3 4 5 6 7 Record the application of overhead cost to Jobs 102 and 103. Note: Enter debits before credits. Transaction General Journal Debit Credit g Record entry View general journal Clear entry CO CC