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 payrollAccounts receivableAccounts payableRaw materials inventoryFinished goods inventoryCashCost of goods soldFactory overhead
	(Click to select)Cost of goods soldFactory overheadCashRaw materials inventoryAccounts receivableAccounts payableFinished goods inventoryFactory payroll
b.	(Click to select)Finished goods inventoryGoods in process inventoryFactory payrollAccounts payableAccounts receivableCashSalesFactory overhead
	(Click to select)Goods in process inventoryAccounts receivableCashSalesFactory payrollAccounts payableFactory overheadFinished goods inventory
c.	(Click to select)Raw materials inventoryAccounts receivableFactory overheadCashFactory payrollProperty taxes payableGoods in process inventoryPrepaid insurance
	(Click to select)Factory payrollPrepaid insuranceAccounts receivableCashGoods in process inventoryProperty taxes payableFactory overheadRaw materials inventory
d.	(Click to select)Factory overheadCashProperty taxes payableAccounts payableRaw materials inventoryFactory payrollCost of goods soldGoods in process inventory
	(Click to select)Factory payrollCost of goods soldRaw materials inventoryAccounts payableCashFactory overheadProperty taxes payableGoods in process inventory
	(Click to select)CashGoods in process inventoryProperty taxes payableAccounts payableFactory overheadRaw materials inventoryCost of goods soldFactory payroll
e.	(Click to select)Goods in process inventoryProperty taxes payableFactory overheadRaw materials inventoryFinished goods inventoryFactory payrollPrepaid insuranceCost of goods sold
	(Click to select)Property taxes payableFinished goods inventoryGoods in process inventoryCost of goods soldFactory overheadFactory payrollPrepaid insuranceRaw materials inventory
	(Click to select)Raw materials inventoryFinished goods inventoryGoods in process inventoryFactory payrollPrepaid insuranceFactory overheadProperty taxes payableCost of goods sold
f.	(Click to select)Factory payrollRaw materials inventoryCost of goods soldFactory overheadSalesGoods in process inventoryFinished goods inventoryPrepaid insurance
	(Click to select)Goods in process inventoryCost of goods soldRaw materials inventoryPrepaid insuranceFactory overheadSalesFactory payrollFinished goods inventory
g.	(Click to select)Factory overheadCost of goods soldAccounts receivableGoods in process inventoryFactory payrollProperty taxes payablePrepaid insuranceFinished goods inventory
	(Click to select)Accounts receivableCost of goods soldProperty taxes payableFinished goods inventoryFactory PayrollFactory overheadGoods in process inventoryPrepaid insurance
h.	(Click to select)Factory overheadFinished goods inventoryGoods in process inventorySalesAccounts receivableFactory payrollPrepaid insuranceCost of goods sold
	(Click to select)Factory payrollGoods in process inventoryFinished goods inventoryFactory overheadAccounts receivableCost of goods soldSalesPrepaid insurance
	(Click to select)SalesFinished goods inventoryRaw materials inventoryCashAccounts receivableFactory overheadFactory payrollCost of goods sold
	(Click to select)Cost of goods soldRaw materials inventoryCashFactory overheadFinished goods inventoryFactory payrollAccounts receivableSales
i.	(Click to select)Accum. Depreciation-factory equipmentCost of goods soldProperty taxes payableFactory overheadGoods in process inventoryPrepaid insuranceAccum. depreciation-factory buildingSales
	(Click to select)Prepaid insuranceCost of goods soldSalesAccum. depreciation-factory buildingProperty taxes payableAccum. depreciation-factory equipmentFactory overheadGoods in process inventory
	(Click to select)Accum. depreciation-factory buildingAccum. depreciation-factory equipmentSalesProperty taxes payablePrepaid insuranceCost of goods soldFactory overheadGoods in process inventory
	(Click to select)Cost of goods soldGoods in process inventoryAccum. depreciation-factory buildingSalesPrepaid insuranceProperty taxes payableAccum. depreciation-factory equipmentFactory overhead
	(Click to select)Accum. depreciation-factory equipmentFactory overheadPrepaid insuranceProperty taxes payableAccum. depreciation-factory buildingCost of goods soldGoods in process inventorySales
j.	(Click to select)SalesAccounts receivableFactory payrollGoods in process inventoryFactory overheadCashFinished goods inventoryRaw materials inventory
	(Click to select)Goods in process inventoryFinished goods inventoryCashSalesRaw materials inventoryFactory overheadAccounts receivableFactory payroll

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