Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's production activities during May 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 $ 48,500 34,000 19,400 23,000 7,200 132,100 Total direct materials Indirect materials Total materials requisitions 21,500 $ 153,600 c. 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 Total labor cost $ 12,100 10,600 37,700 39,400 3,600 103,400 26,000 $ 129,400 d. Applied overhead to Jobs 136, 138, and 139. e. Transferred Jobs 136, 138, and 139 to Finished Goods Inventory. f. Sold Jobs 136 and 138 on credit at a total price of $530,000. g. Recorded the cost of goods sold for Jobs 136 and 138. h. Incurred the following actual other overhead costs during the month. Depreciation of factory building Depreciation of factory equipment Expired factory insurance Accrued property taxes payable $ 68,500 37,000 12,000 36,000 i. Applied overhead at month-end to the Work in Process Inventory account (for Job 137 and 140) using the predetermined overhead rate of 200% of direct labor cost. Problem 19-4A (Algo) Part 1 Required: 1. Prepare a job cost sheet for each job worked on during the month. Job Number 136 Job Number 137 Job Number 138 Job Number 139 Job Number 140 Materials Labor Overhead Total cost
Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's production activities during May 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 $ 48,500 34,000 19,400 23,000 7,200 132,100 Total direct materials Indirect materials Total materials requisitions 21,500 $ 153,600 c. 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 Total labor cost $ 12,100 10,600 37,700 39,400 3,600 103,400 26,000 $ 129,400 d. Applied overhead to Jobs 136, 138, and 139. e. Transferred Jobs 136, 138, and 139 to Finished Goods Inventory. f. Sold Jobs 136 and 138 on credit at a total price of $530,000. g. Recorded the cost of goods sold for Jobs 136 and 138. h. Incurred the following actual other overhead costs during the month. Depreciation of factory building Depreciation of factory equipment Expired factory insurance Accrued property taxes payable $ 68,500 37,000 12,000 36,000 i. Applied overhead at month-end to the Work in Process Inventory account (for Job 137 and 140) using the predetermined overhead rate of 200% of direct labor cost. Problem 19-4A (Algo) Part 1 Required: 1. Prepare a job cost sheet for each job worked on during the month. Job Number 136 Job Number 137 Job Number 138 Job Number 139 Job Number 140 Materials Labor Overhead Total cost
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter26: Manufacturing Accounting: The Job Order Cost System
Section: Chapter Questions
Problem 3SEB: JOURNAL ENTRIES FOR MATERIAL, LABOR, AND OVERHEAD Rich Manufacturing Corporation had the following...
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![Problem 19-4A (Algo) Preparing job cost sheets, recording costs, preparing inventory ledger accounts LO
P1, P2, P3
[The following information applies to the questions displayed below.]
Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's production activities
during May 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
$ 48,500
34,000
19,400
23,000
7,200
132,100
Job 140
Total direct materials
Indirect materials
Total materials requisitions
21,500
$ 153,600
c. 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
Total labor cost
$ 12,100
10,600
37,700
39,400
3,600
103,400
26,000
$ 129,400
d. Applied overhead to Jobs 136, 138, and 139.
e. Transferred Jobs 136, 138, and 139 to Finished Goods Inventory.
f. Sold Jobs 136 and 138 on credit at a total price of $530,000.
g. Recorded the cost of goods sold for Jobs 136 and 138.
h. Incurred the following actual other overhead costs during the month.
Depreciation of factory building
Depreciation of factory equipment
Expired factory insurance
Accrued property taxes payable
$ 68,500
37,000
12,000
36,000
i. Applied overhead at month-end to the Work in Process Inventory account (for Job 137 and 140) using the
predetermined overhead rate of 200% of direct labor cost.
Problem 19-4A (Algo) Part 1
Required:
1. Prepare a job cost sheet for each job worked on during the month.
Job Number 136 Job Number 137 Job Number 138 Job Number 139 Job Number 140
Materials
Labor
Overhead
Total cost](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd9db4f1e-3938-4169-aa6d-d05aa91565f1%2F292c6fc6-efcd-455f-8d22-7b57ce960d50%2Fbxewe2_processed.png&w=3840&q=75)
Transcribed Image Text:Problem 19-4A (Algo) Preparing job cost sheets, recording costs, preparing inventory ledger accounts LO
P1, P2, P3
[The following information applies to the questions displayed below.]
Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's production activities
during May 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
$ 48,500
34,000
19,400
23,000
7,200
132,100
Job 140
Total direct materials
Indirect materials
Total materials requisitions
21,500
$ 153,600
c. 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
Total labor cost
$ 12,100
10,600
37,700
39,400
3,600
103,400
26,000
$ 129,400
d. Applied overhead to Jobs 136, 138, and 139.
e. Transferred Jobs 136, 138, and 139 to Finished Goods Inventory.
f. Sold Jobs 136 and 138 on credit at a total price of $530,000.
g. Recorded the cost of goods sold for Jobs 136 and 138.
h. Incurred the following actual other overhead costs during the month.
Depreciation of factory building
Depreciation of factory equipment
Expired factory insurance
Accrued property taxes payable
$ 68,500
37,000
12,000
36,000
i. Applied overhead at month-end to the Work in Process Inventory account (for Job 137 and 140) using the
predetermined overhead rate of 200% of direct labor cost.
Problem 19-4A (Algo) Part 1
Required:
1. Prepare a job cost sheet for each job worked on during the month.
Job Number 136 Job Number 137 Job Number 138 Job Number 139 Job Number 140
Materials
Labor
Overhead
Total cost
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