[The following information applies to the questions displayed below.]

Westin Watercrafts predetermined overhead rate for year 2011 is 200% of direct labor. Information on the companys production activities during May 2011 follows.

a.	Purchased raw materials on credit, $240,000.
b.	Paid $127,800 cash for factory wages.
c.	Paid $15,500 cash to a computer consultant to reprogram factory equipment.
d.	Materials requisitions record use of the following materials for the month.

Job 136	$	48,000
Job 137		33,500
Job 138		19,800
Job 139		22,800
Job 140		7,200
Total direct materials		131,300
Indirect materials		20,000
Total materials used	$	151,300

e.	Time tickets record use of the following labor for the month.

Job 136	$	12,200
Job 137		10,500
Job 138		37,900
Job 139		39,600
Job 140		3,600
Total direct labor		103,800
Indirect labor		24,000
Total	$	127,800

f.	Applied overhead to Jobs 136, 138, and 139.
g.	Transferred Jobs 136, 138, and 139 to Finished Goods.
h.	Sold Jobs 136 and 138 on credit at a total price of $540,000.
i.	The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance).

Depreciation of factory building	$	69,500
Depreciation of factory equipment		37,000
Expired factory insurance		11,000
Accrued property tax payable		35,500

j.	Applied overhead at month-end to the Goods in Process (Jobs 137 and 140) using the predetermined overhead rate of 200% of direct labor cost.

25.

Required information

Required:
1.	Prepare a job cost sheet for each job worked on during the month. (Omit the "$" sign in your response.)

	Job No. 136	Job No. 137	Job No. 138	Job No. 139	Job No. 140
Materials	$	$	$	$	$
Labor
Overhead
Total cost	$	$	$	$	$

26.

Required information

2.	Prepare journal entries to record the events and transactions a through j. (Omit the "$" sign in your response. )

	General Journal	Debit	Credit
a.	(Click to select)Factory overheadRaw materials inventoryFactory payrollCost of goods soldFinished goods inventoryCashAccounts payableAccounts receivable
	(Click to select)Cost of goods soldRaw materials inventoryFinished goods inventoryFactory overheadCashFactory payrollAccounts payableAccounts receivable
b.	(Click to select)SalesFinished goods inventoryAccounts payableAccounts receivableGoods in process inventoryFactory payrollCashFactory overhead
	(Click to select)SalesCashGoods in process inventoryFactory payrollFinished goods inventoryFactory overheadAccounts payableAccounts receivable
c.	(Click to select)CashProperty taxes payableAccounts receivableFactory overheadGoods in process inventoryPrepaid insuranceFactory payrollRaw materials inventory
	(Click to select)Accounts receivableRaw materials inventoryGoods in process inventoryProperty taxes payablePrepaid insuranceFactory payrollFactory overheadCash
d.	(Click to select)Cost of goods soldRaw materials inventoryAccounts payableFactory overheadFactory payrollGoods in process inventoryProperty taxes payableCash
	(Click to select)Factory payrollProperty taxes payableCost of goods soldCashGoods in process inventoryRaw materials inventoryAccounts payableFactory overhead
	(Click to select)Factory payrollRaw materials inventoryGoods in process inventoryFactory overheadCost of goods soldCashProperty taxes payableAccounts payable
e.	(Click to select)Raw materials inventoryFinished goods inventoryProperty taxes payableFactory payrollGoods in process inventoryCost of goods soldFactory overheadPrepaid insurance
	(Click to select)Factory payrollPrepaid insuranceRaw materials inventoryGoods in process inventoryCost of goods soldFinished goods inventoryFactory overheadProperty taxes payable
	(Click to select)Goods in process inventoryFactory payrollFactory overheadRaw materials inventoryPrepaid insuranceProperty taxes payableCost of goods soldFinished goods inventory
f.	(Click to select)Finished goods inventoryFactory overheadPrepaid insuranceRaw materials inventoryFactory payrollSalesGoods in process inventoryCost of goods sold
	(Click to select)Factory payrollFactory overheadSalesCost of goods soldRaw materials inventoryGoods in process inventoryPrepaid insuranceFinished goods inventory
g.	(Click to select)Property taxes payableFactory payrollFactory overheadCost of goods soldPrepaid insuranceFinished goods inventoryAccounts receivableGoods in process inventory
	(Click to select)Factory PayrollFactory overheadGoods in process inventoryCost of goods soldAccounts receivableFinished goods inventoryProperty taxes payablePrepaid insurance
h.	(Click to select)Prepaid insuranceFactory payrollFinished goods inventorySalesFactory overheadGoods in process inventoryCost of goods soldAccounts receivable
	(Click to select)Factory overheadCost of goods soldGoods in process inventorySalesFinished goods inventoryAccounts receivablePrepaid insuranceFactory payroll
	(Click to select)Factory payrollAccounts receivableFinished goods inventoryCost of goods soldFactory overheadRaw materials inventorySalesCash
	(Click to select)Cost of goods soldFinished goods inventoryFactory payrollFactory overheadSalesCashAccounts receivableRaw materials inventory
i.	(Click to select)Property taxes payablePrepaid insuranceSalesFactory overheadAccum. Depreciation-factory equipmentGoods in process inventoryAccum. depreciation-factory buildingCost of goods sold
	(Click to select)SalesCost of goods soldProperty taxes payableAccum. depreciation-factory buildingFactory overheadPrepaid insuranceAccum. depreciation-factory equipmentGoods in process inventory
	(Click to select)Property taxes payableGoods in process inventoryPrepaid insuranceCost of goods soldAccum. depreciation-factory buildingFactory overheadSalesAccum. depreciation-factory equipment
	(Click to select)Accum. depreciation-factory equipmentCost of goods soldGoods in process inventoryPrepaid insuranceAccum. depreciation-factory buildingProperty taxes payableFactory overheadSales
	(Click to select)Goods in process inventoryProperty taxes payableSalesAccum. depreciation-factory equipmentCost of goods soldFactory overheadAccum. depreciation-factory buildingPrepaid insurance
j.	(Click to select)Factory overheadSalesRaw materials inventoryFactory payrollFinished goods inventoryCashGoods in process inventoryAccounts receivable
	(Click to select)Raw materials inventorySalesFactory payrollFinished goods inventoryGoods in process inventoryFactory overheadCashAccounts receivable

27.

Required information

4.	Prepare a report showing the total cost of each job in process and prove that the sum of their costs equals the Goods in Process Inventory account balance. Prepare similar reports for Finished Goods Inventory and Cost of Goods Sold. (Omit the "$" sign in your response.)

Reports of Job Costs
Goods in Process Inventory
(Click to select)Job 137Job 136Job 139Job 138	$
(Click to select)Job 139Job 137Job 138Job 140Job 136
Balance	$
Finished Goods Inventory
(Click to select)Job 137Job 136Job 140Job 138Job 139	$
Balance	$
Cost of Goods Sold
(Click to select)Job 139Job 136Job 137Job 140	$
(Click to select)Job 138Job 137Job 140Job 136Job 139
Balance	$