Question

Please show calculations on how you obtained the answers for support.
18 Required information [The following information applies to the questions displayed below.) Part 1 of 4 0.47 points Widmer 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. eBook Print References $ 50,000 33,000 20,200 23,000 6,800 Job 136 Job 137 Job 138 Job 139 Job 140 Total direct materials Indirect materials Total materials used 133,000 20,500 $153,500

Answer 1

1) Schedules: Totals Direct Materials Direct Labors Factory Overhead Total costs allocated to the jobs Status at the end Finished Goods Job 136 Job 138 Job 139 $50,000 $20,200 $23,000 $12,100 $38,100 $39,400 $24,200 $76,200 $78,800 $86,300 $134,500 $141,200 Sold Sold Unsold WIP Job 137 Job 140 $33,000 $6,800 $10,600 $3,200 $21,200 $6,400 $64,800 $16,400 WIP WIP $133,000 $103,400 $206,800 [Ref: NOTE-1] $443,200 Total Costs accounted for $220,800 (Cost of Goods Sold) ($86300 + $134500) $141,200 (End. F.G.) $81,200 (Ending W.I.P.) ($64800 + $16400)

Credit NOTE-1 Debit $220,000 $220,000 Ref: NOTE-1 $133,000 $20,500 Job 136 137 $153,500 138 $15,250 139 140 Materials $50,000 $33,000 $20,200 $23,000 $6,800 $133,000 $20,500 $153,500 Labor $12,100 $10,600 $38,100 $39,400 $3,200 $103,400 $26,500 $129,900 Total $62,100 $43,600 $58,300 $62,400 $10,000 $236,400 $47,000 $283,400 $15,250 Ref: NOTE-1 $103,400 $26,500 (Used for WIP] (Used for FOH] Gen. factory $129,900 $179,200 Ref: NOTE-1 Event General Journal a) Materials Accounts Payable b) Work in Process Factory overhead Materials Factory overhead Cash Work in Process Factory overhead Cash Work in Process Factory overhead f) Finished Goods Work in Process 8-1) Accounts Receivable Sales revenue g-2) Cost of Goods Sold Finished Goods h) Factory overhead Accumulated depreciation-Build. Accumulated depreciation-Equip. Prepaid Insurance Property taxes payable Work in Process Factory overhead $179,200 $362,000 [$220800 + $141200] Job 136 138 $362,000 Direct Labor $12,100 $38,100 $39,400 $89,600 Rate 200% 200% 200% 200% Applied FOH $24,200 $12100 x $200%] $76,200 $38100 x $200%] $78,800 [$39400 x $200%] $179,200 --> FOH applied to Job 136, 138 & 139 $535,000 139 $535,000 $220,800 [Ref: Schedules] $220,800 $154,500 Job 137 Direct Labor Direct Labor $10,600 $3,200 $13,800 $69,000 $37,500 $12,000 $36,000 Rate Rate 200% 200% 200% 140 Applied FOH $21,200 ($10600 x $200%] $6,400 ($3200 x $200%] $27,600 --> FOH applied to Job 137 & 140 $27,600 Ref: NOTE-1 $27,600

Beg. Bal. Materials $0 b) $220,000 $153,500 Beg. Bal. $362,000 Beg. Bal. Finished Goods $08-2) $362,000 $220,800 b) Work in Process $0f) $133,000 $103,400 $179,200 $27,600 $81,200 i) End. Bal. End. Bal. $66,500 End. Bal. $141,200 Beg. Bal. $179,200 Beg. Bal. Cost of Goods Sold $0 $220,800 $27,600 8-2) Factory Overhead $0e) $20,5000) $15,250 $26,500 $154,500 $9,950 d) End. Bal. End. Bal. $220,800

$0 Report of Job Costs Work in Process Inventory Beginning balance Job 137 $64,800 Job 140 $16,400 Balance $81,200 Finished Goods Inventory Beginning balance Job 139 $141,200 Balance $141,200 Cost of Goods Sold Beginning balance Job 136 $86,300 Job 138 $134,500 Balance $220,800 $0