Solution
Firstly we have to prepare the job cost sheets:
Job cost sheet=material (from b) + labour(from d) + factory overhead(200% of direct labour)
Job cost sheet for:
Job no. 136=$48,000+$12,000+24,000=$84,000
Job no. 137=$32,000+$10,500+$21,000=$63,500
Job 138=$19,200+$37,500+$75000=$131,700
Job no. 139=$22,400+$39,000+$78,000=$139,400
Job no. 140=$6,400+$3,000+$6,000=$15,400
3. T account
Raw material inventory
a. | $200, 000 | ||
$147, 500 | b. | ||
End. Balance | $52,500 |
Work in process inventory
b | $128,000 | ||
d | $102,000 | ||
e.(24000+75000+78000) | $177,000 | ||
$355,100 |
f.(84000+131700+139400) | ||
i(21000+6000) | $27,000 | ||
End. Bal. | $78,900 |
Factory overhead
b. | $19,500 | ||
c. | $15,000 | ||
d. | $24,000 | ||
$177,000 | e. | ||
h.(68000+36500+10000+35000) | $149,500 | $27,000 | i |
End. Bal. | $4,000 |
Finished goods inventory
f. | $355,100 | ||
$215,700 | g.(84000+131700) | ||
End. Bal. | $139,400 |
Cost of good sold:
g. | $215, 700 | ||
Ending balance | $215, 700 |
Widmer watercraft's predetermined overhead rate for the year 2017 is 200% of direct labor. Information on...
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. 74 Job 136 Job 137 Job 138 Job 139 Job 140 Total direct materials Indirect materials Total materials used $ 48,500 32, een 2e, 200 22,400 6.600 129,700 20,500 $150,200 c. Paid $15,250 cash to a computer...
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 $ 49,500 34,000 20,000 22,400 6,600 132,500 21,000 $153,500 c. Pald $15,000 cash to a computer consultant to reprogram...
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, $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 Total materials used $ 48,000 32,000 19,200 22,400 6,400 128,000 19,500 $147,500 c. Paid $15,000 cash to a computer consultant to reprogram factory equipment. d. Time tickets...
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 $ 49,500 34.000 20,000 22,400 5,600 132,500 21,000 $153,500 c. Paid $15,000 cash to a computer consultant to reprogram...
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 Dob 139 Job 140 Total direct materials Indirect materials Total materials used $ 49,500 34,099 20,000 22,400 6,600 132,500 21, eee $153,500 c. Paid $15,000 cash to a computer consultant to...
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. Purchased raw materials on credit, $260,000. Materials requisitions record use of the following materials for the month. Job 136 $ 50,000 Job 137 32,500 Job 138 20,200 Job 139 22,400 Job 140 6,400 Total direct materials 131,500 Indirect materials 21,000 Total materials used $ 152,500 Paid $15,750 cash to a computer consultant to reprogram factory equipment....
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, Job 136 Job 137 Job 138 Job 139 Job 140 Total direct materials Indirect materials Total materials used $ 48,500 34,000 19,600 22,800 6,600 131,500 19,500 $151,000 c. Paid $16,000 cash to a computer consultant to reprogram factory equipment. d. Time tickets...
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 $ 48,000 32.000 19,209 22.400 Job 136 Job 137 Job 138 Job 139 Job 140 Total direct materials Indirect materials Total materials used 128,000 19.500 $147.500 nces c. Paid $15,000 cash to a computer consultant to reprogram...
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, $200,000. b. Materials requisitions record use of the following materials for the month. Job 136 $ 48,000 Job 137 32,000 Job 138 19,200 Job 139 22,400 Job 140 6,400 Total direct materials 128,000 Indirect materials 19,500 Total materials used $ 147,500 Paid $15,000 cash to a computer consultant to reprogram factory equipment. Time tickets record...
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, $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 Total materials used $ 48,500 33,500 20,000 22,600 6,600 131,200 20,000 $ 151,200 c. Paid $15,000 cash to a computer consultant to reprogram factory equipment. d. Time...