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)Cost of goods soldFactory overheadCashFactory payrollRaw materials inventoryAccounts payableFinished goods inventoryAccounts receivable
	(Click to select)CashFinished goods inventoryAccounts receivableCost of goods soldRaw materials inventoryFactory overheadFactory payrollAccounts payable
b.	(Click to select)CashAccounts payableFactory payrollAccounts receivableGoods in process inventorySalesFinished goods inventoryFactory overhead
	(Click to select)Accounts receivableCashGoods in process inventoryFactory overheadFactory payrollAccounts payableSalesFinished goods inventory
c.	(Click to select)Goods in process inventoryRaw materials inventoryFactory payrollProperty taxes payableFactory overheadAccounts receivablePrepaid insuranceCash
	(Click to select)Property taxes payableGoods in process inventoryRaw materials inventoryAccounts receivableFactory overheadPrepaid insuranceCashFactory payroll
d.	(Click to select)CashRaw materials inventoryCost of goods soldGoods in process inventoryFactory payrollAccounts payableProperty taxes payableFactory overhead
	(Click to select)CashProperty taxes payableFactory payrollRaw materials inventoryAccounts payableGoods in process inventoryCost of goods soldFactory overhead
	(Click to select)CashFactory overheadGoods in process inventoryCost of goods soldAccounts payableProperty taxes payableRaw materials inventoryFactory payroll
e.	(Click to select)Factory overheadRaw materials inventoryFactory payrollFinished goods inventoryCost of goods soldPrepaid insuranceProperty taxes payableGoods in process inventory
	(Click to select)Prepaid insuranceFinished goods inventoryFactory overheadProperty taxes payableCost of goods soldFactory payrollRaw materials inventoryGoods in process inventory
	(Click to select)Raw materials inventoryCost of goods soldFinished goods inventoryPrepaid insuranceGoods in process inventoryFactory overheadProperty taxes payableFactory payroll
f.	(Click to select)Cost of goods soldRaw materials inventoryFactory payrollSalesFactory overheadFinished goods inventoryPrepaid insuranceGoods in process inventory
	(Click to select)Cost of goods soldRaw materials inventoryFactory payrollPrepaid insuranceFinished goods inventoryGoods in process inventoryFactory overheadSales
g.	(Click to select)Finished goods inventoryFactory overheadAccounts receivablePrepaid insuranceGoods in process inventoryProperty taxes payableCost of goods soldFactory payroll
	(Click to select)Goods in process inventoryFactory overheadCost of goods soldProperty taxes payableAccounts receivablePrepaid insuranceFactory PayrollFinished goods inventory
h.	(Click to select)SalesFactory overheadFactory payrollPrepaid insuranceGoods in process inventoryFinished goods inventoryAccounts receivableCost of goods sold
	(Click to select)Cost of goods soldPrepaid insuranceFactory payrollAccounts receivableFinished goods inventoryFactory overheadGoods in process inventorySales
	(Click to select)Factory payrollFactory overheadCashRaw materials inventoryCost of goods soldAccounts receivableFinished goods inventorySales
	(Click to select)SalesRaw materials inventoryCost of goods soldCashFactory payrollFinished goods inventoryFactory overheadAccounts receivable
i.	(Click to select)Prepaid insuranceGoods in process inventoryAccum. depreciation-factory buildingAccum. Depreciation-factory equipmentSalesFactory overheadCost of goods soldProperty taxes payable
	(Click to select)SalesAccum. depreciation-factory equipmentCost of goods soldAccum. depreciation-factory buildingPrepaid insuranceProperty taxes payableGoods in process inventoryFactory overhead
	(Click to select)Cost of goods soldPrepaid insuranceGoods in process inventoryAccum. depreciation-factory buildingSalesProperty taxes payableFactory overheadAccum. depreciation-factory equipment
	(Click to select)SalesFactory overheadGoods in process inventoryAccum. depreciation-factory equipmentCost of goods soldPrepaid insuranceProperty taxes payableAccum. depreciation-factory building
	(Click to select)Accum. depreciation-factory equipmentFactory overheadAccum. depreciation-factory buildingGoods in process inventoryProperty taxes payableSalesPrepaid insuranceCost of goods sold
j.	(Click to select)Accounts receivableFactory payrollFactory overheadCashFinished goods inventoryRaw materials inventorySalesGoods in process inventory
	(Click to select)Factory overheadFactory payrollFinished goods inventoryCashGoods in process inventorySalesAccounts receivableRaw materials inventory

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