Required information
[The following information applies to the questions
displayed below.]
Widmer Watercraft’s predetermined overhead rate is 200% of direct
labor. Information on the company’s production activities during
May follows.
Job 136 | $ | 48,500 | |
Job 137 | 33,500 | ||
Job 138 | 19,200 | ||
Job 139 | 22,800 | ||
Job 140 | 7,200 | ||
Total direct materials |
131,200 |
||
Indirect materials | 20,500 | ||
Total materials used | $ | 151,700 | |
Job 136 | $ | 12,000 | |
Job 137 | 10,600 | ||
Job 138 | 37,700 | ||
Job 139 | 39,400 | ||
Job 140 | 3,600 | ||
Total direct labor | 103,300 | ||
Indirect labor | 24,000 | ||
Total | $ | 127,300 | |
Depreciation of factory building | $ | 69,000 | |
Depreciation of factory equipment | 36,500 | ||
Expired factory insurance | 11,000 | ||
Accrued property taxes payable | 36,500 | ||
3. Post the journal entries for the
transactions to the following T-accounts, each of which started the
month with a zero balance.
Raw Material Inventory
Factory Overhead
Cost of Goods Sold
Work in Process Inventory
Finished Goods Inventory
Open ledger accounts of the following:
Raw material inventory
Work in process inventory
Finished goods inventory
Factory overhead
Cost of goods sold
Enter balances as 0
Enter the transactions in the ledger accounts.
Required information [The following information applies to the questions displayed below.] Widmer Watercraft’s predetermined overhead rate...
Required information [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. Purchased raw materials on credit, $240,000. Materials requisitions record use of the following materials for the month. Job 136 $ 50,000 Job 137 32,500 Job 138 19,600 Job 139 22,600 Job 140 7,000 Total direct materials 131,700 Indirect materials 20,000 Total materials used $ 151,700...
Required information [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. Purchased raw materials on credit, $240,000. Materials requisitions record use of the following materials for the month. Job 136 $ 50,000 Job 137 32,500 Job 138 19,600 Job 139 22,600 Job 140 7,000 Total direct materials 131,700 Indirect materials 20,000 Total materials used $ 151,700...
Required information [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. Purchased raw materials on credit, $240,000. Materials requisitions record use of the following materials for the month. Job 136 $ 50,000 Job 137 32,500 Job 138 19,600 Job 139 22,600 Job 140 7,000 Total direct materials 131,700 Indirect materials 20,000 Total materials used $ 151,700...
Required information [The following information applies to the questions displayed below.] Widmer Watercraft’s predetermined overhead rate is 200% of direct labor. Information on the company’s production activities during May follows. Purchased raw materials on credit, $220,000. Materials requisitions record use of the following materials for the month. Job 136 $ 50,000 Job 137 33,500 Job 138 19,600 Job 139 22,600 Job 140 6,600 Total direct materials 132,300 Indirect materials 21,000 Total materials used $ 153,300 Paid $16,000 cash to a...
Required information [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. Purchased raw materials on credit, $240,000. Materials requisitions record use of the following materials for the month. Job 136 $ 48,500 Job 137 33,500 Job 138 19,600 Job 139 22,800 Job 140 6,600 Total direct materials 131,000 Indirect materials 21,000 Total materials used $ 152,000...
Required information [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. Purchased raw materials on credit, $240,000. Materials requisitions record use of the following materials for the month. Job 136 $ 48,500 Job 137 33,500 Job 138 19,600 Job 139 22,800 Job 140 6,600 Total direct materials 131,000 Indirect materials 21,000 Total materials used $ 152,000...
[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. Purchased raw materials on credit, $240,000. Materials requisitions record use of the following materials for the month. Job 136 $ 48,500 Job 137 33,000 Job 138 20,000 Job 139 23,000 Job 140 7,200 Total direct materials 131,700 Indirect materials 21,500 Total materials used $ 153,200 Paid $15,500...
Required information [The following information applies to the questions displayed below.) 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...
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...
Required information [The following information applies to the questions displayed below.] 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. $ 48,000 Job 136 Job 137 32,000 19,200 22,400 6,400 128,000 19,500 Job 138 Job 139 Job 140 Total direct materials Indirect materials $147,500 Total materials used c. Paid $15,000 cash...