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)CashFactory payrollAccounts payableRaw materials inventoryFactory overheadAccounts receivableCost of goods soldFinished goods inventory
	(Click to select)Cost of goods soldFactory payrollRaw materials inventoryFactory overheadCashAccounts receivableAccounts payableFinished goods inventory
b.	(Click to select)Factory payrollAccounts payableFinished goods inventoryAccounts receivableSalesGoods in process inventoryCashFactory overhead
	(Click to select)Factory payrollAccounts receivableSalesAccounts payableGoods in process inventoryCashFinished goods inventoryFactory overhead
c.	(Click to select)Prepaid insuranceRaw materials inventoryAccounts receivableFactory payrollGoods in process inventoryFactory overheadProperty taxes payableCash
	(Click to select)Goods in process inventoryPrepaid insuranceFactory overheadCashAccounts receivableRaw materials inventoryProperty taxes payableFactory payroll
d.	(Click to select)Property taxes payableCost of goods soldCashFactory payrollAccounts payableRaw materials inventoryGoods in process inventoryFactory overhead
	(Click to select)Factory overheadRaw materials inventoryFactory payrollProperty taxes payableGoods in process inventoryCost of goods soldCashAccounts payable
	(Click to select)Property taxes payableAccounts payableFactory payrollCashCost of goods soldRaw materials inventoryGoods in process inventoryFactory overhead
e.	(Click to select)Factory overheadProperty taxes payableFactory payrollPrepaid insuranceRaw materials inventoryFinished goods inventoryGoods in process inventoryCost of goods sold
	(Click to select)Finished goods inventoryPrepaid insuranceFactory overheadProperty taxes payableFactory payrollRaw materials inventoryCost of goods soldGoods in process inventory
	(Click to select)Finished goods inventoryCost of goods soldFactory overheadGoods in process inventoryFactory payrollPrepaid insuranceRaw materials inventoryProperty taxes payable
f.	(Click to select)Cost of goods soldGoods in process inventorySalesRaw materials inventoryFinished goods inventoryPrepaid insuranceFactory payrollFactory overhead
	(Click to select)Finished goods inventoryFactory overheadPrepaid insuranceRaw materials inventoryGoods in process inventoryCost of goods soldSalesFactory payroll
g.	(Click to select)Factory payrollAccounts receivableFactory overheadGoods in process inventoryFinished goods inventoryProperty taxes payablePrepaid insuranceCost of goods sold
	(Click to select)Goods in process inventoryAccounts receivableFinished goods inventoryCost of goods soldPrepaid insuranceFactory PayrollProperty taxes payableFactory overhead
h.	(Click to select)Factory overheadPrepaid insuranceAccounts receivableSalesCost of goods soldFinished goods inventoryFactory payrollGoods in process inventory
	(Click to select)Factory payrollPrepaid insuranceGoods in process inventoryAccounts receivableCost of goods soldFactory overheadFinished goods inventorySales
	(Click to select)Raw materials inventoryCashFinished goods inventoryAccounts receivableFactory overheadSalesFactory payrollCost of goods sold
	(Click to select)Factory payrollRaw materials inventorySalesFactory overheadAccounts receivableFinished goods inventoryCost of goods soldCash
i.	(Click to select)Property taxes payableAccum. Depreciation-factory equipmentPrepaid insuranceFactory overheadGoods in process inventoryAccum. depreciation-factory buildingSalesCost of goods sold
	(Click to select)SalesGoods in process inventoryAccum. depreciation-factory buildingAccum. depreciation-factory equipmentProperty taxes payableCost of goods soldPrepaid insuranceFactory overhead
	(Click to select)Prepaid insuranceGoods in process inventoryFactory overheadCost of goods soldAccum. depreciation-factory buildingSalesProperty taxes payableAccum. depreciation-factory equipment
	(Click to select)Prepaid insuranceProperty taxes payableAccum. depreciation-factory buildingGoods in process inventoryCost of goods soldSalesFactory overheadAccum. depreciation-factory equipment
	(Click to select)Accum. depreciation-factory equipmentCost of goods soldSalesAccum. depreciation-factory buildingGoods in process inventoryProperty taxes payablePrepaid insuranceFactory overhead
j.	(Click to select)CashRaw materials inventoryGoods in process inventorySalesFactory payrollFactory overheadAccounts receivableFinished goods inventory
	(Click to select)Accounts receivableRaw materials inventoryGoods in process inventorySalesFinished goods inventoryFactory payrollCashFactory overhead

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