Question

PLEASE HELP ME SOLVE THIS PROBLEM I DONT UNDERSTAND WHAT I AM DOING WRONG

Required information Problem 2-3A Source documents, journal entries, and accounts in job order costing LO P1, P2, P3 [The following information applies to the questions displayed below.] 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, $200,000. 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 $ 48,000 32,000 19,200 22,400 6,400 128,000 19.500

Answer 1

Solution 3:

	Job No. 136	Job No. 137	Job No. 138	Job No. 139	Job No. 140
Materials	$48,000.00	$32,000.00	$19,200.00	$22,400.00	$6,400.00
Labor	$12,000.00	$10,500.00	$37,500.00	$39,000.00	$3,000.00
Overhead	$24,000.00	$21,000.00	$75,000.00	$78,000.00	$6,000.00
Total cost	$84,000.00	$63,500.00	$131,700.00	$139,400.00	$15,400.00

Raw material Inventory
Event	Debit	Event	Credit
a	$200,000.00	b	$147,500.00
		Ending Balance	$52,500.00
Total	$200,000.00	Total	$200,000.00
Work In Process Inventory
Event	Debit	Event	Credit
b	$128,000.00	f	$355,100.00
d	$102,000.00	Ending Balance	$78,900.00
e	$177,000.00
i	$27,000.00
Total	$434,000.00	Total	$434,000.00
Finished Goods Inventory
Event	Debit	Event	Credit
f	$355,100.00	g	$215,700.00
		Ending Balance	$139,400.00
Total	$355,100.00	Total	$355,100.00
Cost of goods sold
Event	Debit	Event	Credit
g	$215,700.00	Ending balance	$219,300.00
Total	$215,700.00	Total	$219,300.00
Manufacturing Overhead
Event	Debit	Event	Credit
b	$19,500.00	e	$177,000.00
c	$15,000.00	i	$27,000.00
d	$24,000.00	Underapplied overhead	$4,000.00
h	$149,500.00
Total	$208,000.00	Total	$208,000.00