Sail Away takes special orders to manufacture sail boats for high end customers. Complete the job cost sheets for Sail Away for September based on the following information. Prepare journal entries to record the transactions as well as post to the job cost sheets.

a. Purchased raw materials on credit, $145,000. b. Materials requisitions: Job 240, $48,000; Job 241, $36,000; Job 242, $42,000; indirect materials were $12,000. c. Paid $130,000 for factory wages. d. Time tickets used to charge labor to jobs: Job 240, $40,000; Job 241, $30,000; Job 242, $35,000, indirect labor is $25,000. e. The company incurred the following additional overhead costs: depreciation of factory building, $70,000; depreciation of factory equipment, $60,000; expired factory insurance, $10,000; utilities and maintenance cost of $20,000 were paid in cash. (Hint: Be careful Cash is not your only credit). f. Applied overhead to all three jobs. The predetermined overhead rate is 190% of direct labor cost. g. Transferred jobs 240 and 242 to Finished Goods Inventory. h. Sold job 240 for $300,000 for cash. i. Closed the under- or over-applied overhead account balance.