since sheet as of December 31, 2019. 3. Assume that the $5,600 on materials requisition 21-3012 should have been direct materia Job 404. Indicate whether this error results in overstated or understated total assets om sheet at December 31, 2019. have been direct materials charged to nderstated total assets on the balance Problem 15-3A Source documents, Journal entries, and accounts in job order costing P1 P2 P3 Widmer Watercraft's predetermined overhead rate is 2007 of direct labor. Information on production activities during May follows. a. Purchased raw materials on credit, $200,000 b. Materials requisitions record use of the following materials for the month. Job 136 Job 137 Job 138 Job 139 Job 140 Total direct materials Indirect materials Total materials used $ 48,000 32,000 19,200 22.400 6.400 128,000 19,500 $147,500 C. Paid $15,000 cash to a computer consultant to reprogram factory equipment. d. Time tickets record use of the following labor for the month. These wages were paid in cash. 131600 21500 Job 136 Job 137 Job 138 Job 139 Job 140 Total direct labor Indirect labor... Total $ 12.000 10,500 37,500 39,000 3,000 102.000 24,000 $126,000 153100 e. Applied overhead to Jobs 136, 138, and 139. f. Transferred Jobs 136, 138, and 139 to Finished Goods. g. Sold Jobs 136 and 138 on credit at a total price of $525,000. since sheet as of December 31, 2019. 3. Assume that the $5,600 on materials requisition 21-3012 should have been direct materia Job 404. Indicate whether this error results in overstated or understated total assets om sheet at December 31, 2019. have been direct materials charged to nderstated total assets on the balance Problem 15-3A Source documents, Journal entries, and accounts in job order costing P1 P2 P3 Widmer Watercraft's predetermined overhead rate is 2007 of direct labor. Information on production activities during May follows. a. Purchased raw materials on credit, $200,000 b. Materials requisitions record use of the following materials for the month. Job 136 Job 137 Job 138 Job 139 Job 140 Total direct materials Indirect materials Total materials used $ 48,000 32,000 19,200 22.400 6.400 128,000 19,500 $147,500 C. Paid $15,000 cash to a computer consultant to reprogram factory equipment. d. Time tickets record use of the following labor for the month. These wages were paid in cash. 131600 21500 Job 136 Job 137 Job 138 Job 139 Job 140 Total direct labor Indirect labor... Total $ 12.000 10,500 37,500 39,000 3,000 102.000 24,000 $126,000 153100 e. Applied overhead to Jobs 136, 138, and 139. f. Transferred Jobs 136, 138, and 139 to Finished Goods. g. Sold Jobs 136 and 138 on credit at a total price of $525,000
