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, $260,000.
b.	Paid $129,800 cash for factory wages.
c.	Paid $15,750 cash to a computer consultant to reprogram factory equipment.
d.	Materials requisitions record use of the following materials for the month.

Job 136	$	49,000
Job 137		33,500
Job 138		20,000
Job 139		23,000
Job 140		7,000
Total direct materials		132,500
Indirect materials		20,000
Total materials used	$	152,500

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

Job 136	$	12,100
Job 137		10,800
Job 138		37,700
Job 139		39,200
Job 140		3,000
Total direct labor		102,800
Indirect labor		27,000
Total	$	129,800

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 $530,000.
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		37,500
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 payrollFinished goods inventoryAccounts payableRaw materials inventoryFactory overheadAccounts receivableCost of goods soldCash
	(Click to select)Cost of goods soldCashFactory overheadFactory payrollRaw materials inventoryAccounts payableAccounts receivableFinished goods inventory
b.	(Click to select)Accounts receivableAccounts payableCashGoods in process inventoryFactory payrollFinished goods inventoryFactory overheadSales
	(Click to select)Finished goods inventoryCashGoods in process inventoryFactory payrollSalesAccounts receivableAccounts payableFactory overhead
c.	(Click to select)Prepaid insuranceProperty taxes payableGoods in process inventoryRaw materials inventoryFactory payrollFactory overheadAccounts receivableCash
	(Click to select)CashProperty taxes payableAccounts receivablePrepaid insuranceFactory payrollGoods in process inventoryFactory overheadRaw materials inventory
d.	(Click to select)Property taxes payableRaw materials inventoryFactory payrollAccounts payableCashFactory overheadGoods in process inventoryCost of goods sold
	(Click to select)Factory payrollFactory overheadProperty taxes payableRaw materials inventoryGoods in process inventoryCashCost of goods soldAccounts payable
	(Click to select)Property taxes payableRaw materials inventoryFactory payrollGoods in process inventoryAccounts payableCashCost of goods soldFactory overhead
e.	(Click to select)Factory overheadRaw materials inventoryGoods in process inventoryCost of goods soldProperty taxes payablePrepaid insuranceFactory payrollFinished goods inventory
	(Click to select)Factory payrollFinished goods inventoryCost of goods soldRaw materials inventoryProperty taxes payableFactory overheadPrepaid insuranceGoods in process inventory
	(Click to select)Finished goods inventoryFactory payrollGoods in process inventoryFactory overheadProperty taxes payablePrepaid insuranceCost of goods soldRaw materials inventory
f.	(Click to select)Cost of goods soldGoods in process inventoryFactory payrollFinished goods inventoryFactory overheadPrepaid insuranceSalesRaw materials inventory
	(Click to select)Prepaid insuranceGoods in process inventoryFinished goods inventoryFactory payrollRaw materials inventorySalesCost of goods soldFactory overhead
g.	(Click to select)Property taxes payableFactory payrollFactory overheadGoods in process inventoryCost of goods soldAccounts receivablePrepaid insuranceFinished goods inventory
	(Click to select)Prepaid insuranceFactory PayrollFinished goods inventoryProperty taxes payableFactory overheadCost of goods soldGoods in process inventoryAccounts receivable
h.	(Click to select)Prepaid insuranceGoods in process inventorySalesFinished goods inventoryFactory overheadFactory payrollAccounts receivableCost of goods sold
	(Click to select)Factory payrollFactory overheadGoods in process inventoryCost of goods soldSalesFinished goods inventoryAccounts receivablePrepaid insurance
	(Click to select)Raw materials inventoryFactory overheadCost of goods soldSalesCashFinished goods inventoryAccounts receivableFactory payroll
	(Click to select)SalesCashRaw materials inventoryFactory payrollAccounts receivableFactory overheadFinished goods inventoryCost of goods sold
i.	(Click to select)Property taxes payablePrepaid insuranceAccum. depreciation-factory buildingSalesAccum. Depreciation-factory equipmentFactory overheadGoods in process inventoryCost of goods sold
	(Click to select)Accum. depreciation-factory buildingAccum. depreciation-factory equipmentGoods in process inventoryFactory overheadProperty taxes payablePrepaid insuranceSalesCost of goods sold
	(Click to select)Factory overheadAccum. depreciation-factory equipmentPrepaid insuranceAccum. depreciation-factory buildingProperty taxes payableGoods in process inventoryCost of goods soldSales
	(Click to select)Accum. depreciation-factory buildingPrepaid insuranceProperty taxes payableCost of goods soldGoods in process inventorySalesFactory overheadAccum. depreciation-factory equipment
	(Click to select)Prepaid insuranceAccum. depreciation-factory buildingProperty taxes payableGoods in process inventorySalesFactory overheadCost of goods soldAccum. depreciation-factory equipment
j.	(Click to select)Accounts receivableSalesGoods in process inventoryCashFinished goods inventoryFactory overheadFactory payrollRaw materials inventory
	(Click to select)CashRaw materials inventoryFinished goods inventoryGoods in process inventoryAccounts receivableSalesFactory payrollFactory 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 138Job 137Job 136Job 139	$
(Click to select)Job 140Job 138Job 139Job 136Job 137
Balance	$
Finished Goods Inventory
(Click to select)Job 140Job 139Job 137Job 138Job 136	$
Balance	$
Cost of Goods Sold
(Click to select)Job 136Job 140Job 137Job 139	$
(Click to select)Job 136Job 139Job 137Job 140Job 138
Balance	$