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)Accounts payableRaw materials inventoryAccounts receivableFactory payrollFactory overheadCashFinished goods inventoryCost of goods sold
	(Click to select)Factory payrollFactory overheadCashAccounts receivableFinished goods inventoryCost of goods soldRaw materials inventoryAccounts payable
b.	(Click to select)Goods in process inventorySalesFactory payrollCashFinished goods inventoryAccounts receivableFactory overheadAccounts payable
	(Click to select)Accounts receivableFinished goods inventoryFactory overheadFactory payrollCashSalesAccounts payableGoods in process inventory
c.	(Click to select)CashFactory overheadPrepaid insuranceRaw materials inventoryGoods in process inventoryAccounts receivableProperty taxes payableFactory payroll
	(Click to select)Accounts receivableFactory payrollFactory overheadCashPrepaid insuranceGoods in process inventoryProperty taxes payableRaw materials inventory
d.	(Click to select)Property taxes payableFactory payrollRaw materials inventoryCost of goods soldFactory overheadGoods in process inventoryAccounts payableCash
	(Click to select)Cost of goods soldRaw materials inventoryFactory payrollProperty taxes payableFactory overheadGoods in process inventoryCashAccounts payable
	(Click to select)Cost of goods soldGoods in process inventoryRaw materials inventoryFactory overheadCashFactory payrollAccounts payableProperty taxes payable
e.	(Click to select)Factory overheadRaw materials inventoryCost of goods soldPrepaid insuranceFinished goods inventoryGoods in process inventoryProperty taxes payableFactory payroll
	(Click to select)Property taxes payableFinished goods inventoryFactory overheadGoods in process inventoryPrepaid insuranceRaw materials inventoryFactory payrollCost of goods sold
	(Click to select)Factory payrollRaw materials inventoryCost of goods soldProperty taxes payableFinished goods inventoryFactory overheadGoods in process inventoryPrepaid insurance
f.	(Click to select)Finished goods inventoryRaw materials inventorySalesFactory overheadFactory payrollPrepaid insuranceCost of goods soldGoods in process inventory
	(Click to select)Cost of goods soldRaw materials inventoryFactory payrollSalesFactory overheadGoods in process inventoryPrepaid insuranceFinished goods inventory
g.	(Click to select)Factory overheadFinished goods inventoryFactory payrollCost of goods soldProperty taxes payableAccounts receivableGoods in process inventoryPrepaid insurance
	(Click to select)Prepaid insuranceFinished goods inventoryAccounts receivableCost of goods soldFactory PayrollFactory overheadProperty taxes payableGoods in process inventory
h.	(Click to select)Finished goods inventoryAccounts receivableGoods in process inventoryPrepaid insuranceCost of goods soldSalesFactory overheadFactory payroll
	(Click to select)Accounts receivableFinished goods inventoryFactory overheadPrepaid insuranceCost of goods soldFactory payrollSalesGoods in process inventory
	(Click to select)Finished goods inventoryRaw materials inventoryAccounts receivableFactory payrollCost of goods soldFactory overheadCashSales
	(Click to select)Raw materials inventoryAccounts receivableSalesFactory overheadFinished goods inventoryFactory payrollCashCost of goods sold
i.	(Click to select)Accum. depreciation-factory buildingFactory overheadGoods in process inventoryProperty taxes payableAccum. Depreciation-factory equipmentCost of goods soldPrepaid insuranceSales
	(Click to select)Factory overheadProperty taxes payableSalesPrepaid insuranceCost of goods soldGoods in process inventoryAccum. depreciation-factory buildingAccum. depreciation-factory equipment
	(Click to select)Accum. depreciation-factory buildingGoods in process inventorySalesProperty taxes payableCost of goods soldAccum. depreciation-factory equipmentPrepaid insuranceFactory overhead
	(Click to select)SalesAccum. depreciation-factory equipmentAccum. depreciation-factory buildingGoods in process inventoryProperty taxes payableCost of goods soldPrepaid insuranceFactory overhead
	(Click to select)Accum. depreciation-factory equipmentSalesProperty taxes payablePrepaid insuranceCost of goods soldAccum. depreciation-factory buildingGoods in process inventoryFactory overhead
j.	(Click to select)CashGoods in process inventoryFactory overheadFinished goods inventoryRaw materials inventorySalesAccounts receivableFactory payroll
	(Click to select)Goods in process inventoryFinished goods inventoryAccounts receivableRaw materials inventoryFactory payrollCashFactory overheadSales

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