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Widmer Watercraft's predetermined overhead rate for the year 2017 is 200% of direct labor. Information on the company's production activities during May 2017 follows. a.

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Widmer Watercraft's predetermined overhead rate for the year 2017 is 200% of direct labor. Information on the company's production activities during May 2017 follows. a. Purchased raw materials on credit, $220,000 b. Materials requisitions record use of the following materials for the month. Job 136 Job 137 Job 138 Job 139 Job 140 Total direct materials Indirect materials Total materials used $ 48,500 33,000 20,000 23,400 7,000 131,900 19,500 $151,400 c. Paid $15,750 cash to a computer consultant to reprogram factory equipment d. Time tickets record use of the following labor for the month. These wages were paid in cash. Job 136 Job 137 Job 138 Job 139 Job 140 Total direct labor Indirect labor $ 12,000 10,800 37,900 39,200 3,200 103, 100 26,500 Job 140 Total direct labor Indirect labor Total 39,200 3,200 103,100 26,500 $129,600 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 $530,000 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 $69,000 36,500 12,000 36,000 i. Applied overhead at month-end to the Work in Process Inventory account (Jobs 137 and 140) using the predetermined overhead rate of 200% of direct labor cost. Required: 1. Prepare a job cost sheet for each job worked on during the month Required: 1. Prepare a job cost sheet for each job worked on during the month. Materials Labor Job No. 136 Job No. 137 Job No. 138 Job No. 139 48,500 $ 33,000 $ 20,000 $ 23,400 12,000 10,800 37,900 39,200 Job No. 140 $ 7,000 3,200 Overhead Total cost $ 60,500 $ 43,800 $ 57,900 $ 62,600 $ 10,200 2. Prepare journal entries to record the events and transactions a through i. View transaction list Journal entry worksheet

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