Westin Watercraft%u2019s predetermined overhead rate for year 2011 is 200% of direct labor. Information on the company%u2019s production activities during May 2011 follows.

a.	Purchased raw materials on credit, $260,000.
b.	Paid $130,200 cash for factory wages.
c.	Paid $16,000 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		32,500
Job 138		20,000
Job 139		22,400
Job 140		7,400
Total direct materials		130,300
Indirect materials		21,000
Total materials used	$	151,300

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

Job 136	$	12,100
Job 137		10,700
Job 138		37,900
Job 139		39,400
Job 140		3,600
Total direct labor		103,700
Indirect labor		26,500
Total	$	130,200

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 $545,000.
i.	The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance).

Depreciation of factory building	$	68,500
Depreciation of factory equipment		37,000
Expired factory insurance		12,000
Accrued property taxes payable		36,500

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.

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	$	$	$	$	$

2.	Prepare journal entries to record the events and transactions a through j. (Omit the "$" sign in your response. )

	General Journal	Debit	Credit
a.
b.
c.
d.
e.
f.
g.
h.
i.
j.

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
	$
Balance	$
Finished Goods Inventory
	$
Balance	$
Cost of Goods Sold
	$
Balance	$