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what are the answers for 1-4? Chopter 19 Job Order Costing Widmer watercraft's predetermined overhead rate for 2017 is 200% of direct labor. Information on
what are the answers for 1-4?
Chopter 19 Job Order Costing Widmer watercraft's predetermined overhead rate for 2017 is 200% of direct labor. Information on the company's production activities during May 2017 follows. a. Purchased raw materials on credit, $200,000 b. Materials requisitions record use of the following materials for the month 4B,000 32,000 19,200 22,400 Job 137 Job 138 Job 139 Job 140 Total direct materials Indirect materials Total materials used 128,000 9,500 $147,500 c. Paid $15,000 cash to a computer consultant to reprogram factory eq d. Time tickets record use of the following labor for the month. These wages were paid Job 136 Job 137 Job 138 Job 139 Job 140 Total direct labor Indirect labor 12,000 0,500 37,500 39,000 3,000 102,000 24,000 126,000 e. Applied overhead to Jobs 136, 138, and 139 f. Transferred Jobs 136, 138, and 139 to Finished Goods. g. Sold Jobs 136 and 138 on credit at a total price of $525.000 h. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance Depreciation of factory building Depreciation of factory equipment Expired factory insurance Accrued property taxes payable $68,000 36,500 10,000 i. Applied overhead at month end to the Work in Process Inventory account (Jobs 137 and 140) using the predetermined overhead rate of 200% (f direct labor cost e a job cost sheet for each job worked on during the month. Use the following simplified forrm Job No Materials Labor Overhead Total cost 2. Prepare journal entries to record the events and transactions a through i a, Set up T-acc with a ze Factory mine the balance of each account with a vero balance: Kaw Materials Inventory; Work in lrocess Inventory; Finished Goods Inventory: counts for each of the following general ledger accounts, each of which started the month c Overhead, Cost of Goods Sold. Then post the journal entries to these Taccounts and deter ort showing the total cost of each job in process and prove that the sum of their costs are a report egual Inventory and Cost of Goods Sold 4. Prep the Work in Process Inventory account balance. Prepare similar reports for 'inished Goods cStep by Step Solution
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