Required Information The following Infarmation eppliles to the questions clspley

Question

Required Information The following Infarmation eppliles to the questions clspleyed below widmer watercroft's receterminec overneea rete for the year 2017 200% of direct 1800. Information on the company's production activites during May 2017 follawa. . Purchssed raw materisla on credit, $200,000 b. Meterisi, roqula'tons record use ofth following moterisla for tne month. 49,800 33,080 19,888 22,688 direct materials atorials Total saterials used c Pald $15.250 cssh to s computer consutsnt to reprogram fectory equipment d Time ticets recoro us of tne following labor for re montr·These weges we psid tn casn. 12,200 e,68e 39,688 direct labor Indirect Labor e Appleo overnesc to Jobs 136, 139, sna 139 Tranaferred Job: 136, 138,and 139 to Finiahed Good: Sold Job; 136 and 138 on credit total price of $540,000. h. The company Incurred the follawing overnesd costs during the month (crecit Prepald Insurance for explred fectory $69,s8e 38,sae 11,088 36,888 Expined factory isurce Accrued property taxis payalle L Applied overhesd at month-end to the Work In Process Inventory account (Jobs 157 and 140) using the predetermines over neo013te of 200% of direct isoor cost.

Explanation / Answer

job 136 job 137 job138 job139 job140 total Materials 49,000 33,000 19,800 22,600 6,800 131,200 labor 12,200 10,600 37,700 39,600 3,600 103,700 overhead 24,400 21200 75400 79200 7200 207,400 total 85,600 64,800 132,900 141,400 17,600 442,300 2) TR General Journal Debit Credit a) Raw materials inventory 200,000 Accounts payable 200,000 b) Work in process inventory 131,200 Factory overhead 19,500 Raw materials inventoy 150,700 c) Factory overhead 15,250 cash 15,250 d) Work in process inventory 103,700 Factory overhead 27,000 Factory payroll 130,700 e) Work in process overhead 179,000 Factory overhead 179,000 f) finished goods inventory 359,900 Work in process inventory 359,900 g) Accounts receivable 540,000 Sales 540,000 cost of goods sold 218,500 finished goods inventory 218,500 h) Factory overhead 155,000 Accumulated depreciation-factory building 69,500 Accumulated depreciation-factory equipment 38,500 prepaid insurance 11,000 property taxes payable 36,000 i) work in process inventory 28,400 Factory overhead 28,400 T- Accounts Raw materials inventory Work in process inventory a. 200,000 b. 131,200 152,100 b. d. 103,700 e. 179,000 end bal 47,900 359,900 f. i. 28400 bal 82,400 Factory overhead finished goods inventory b. 19,500 f. 359,900 c. 15,250 218,500 g. d. 27,000 bal 141,400 179,000 e. h. 155,000 28,400 i bal 9,350 cost of goods sold g. 218,500 end bal 218,500 Report of Job costs Work in process inventory job 137 64,800 job 140 17,600 Balance 82,400 finished goods inventory job 139 141,400 Balance 141,400 cost of goods sold job 136 85,600 job 138 132,900 balance 218,500

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