1 answer

Problem 15-3A Source documents, journal entries, and accounts in job order costing LO P1, P2, P3...

Question:

Problem 15-3A Source documents, journal entries, and accounts in job order costing LO P1, P2, P3 The following information applies to the questions displayed below Widmer watercrafts predetermined overhead rate for year 2015 is 200% of dred labor Information on the companys production activities during May 2015 follows a. Purchased raw materlials on credit,$200,000 b. Materials requisitions record use of the following materials for the month Job 136 ob 137 Job 138 Job 139 Job 140 s 49,000 32,500 19,600 23,200 7400 Total direct materials Indirect materials 20,500 Total materials used $152,200 C. Paid $15750 cash to a computer consultant to reprogram factory equipment d. Time tickets record use of the follawing labor for the month. These wages were paid in cash Job 136 Job 137 Job 138 Job 139 Job 140 $ 12,200 0,800 37500 39,200 4,000 Total direct labor Indirect labor 03700 26,000 Total $129,700
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Problem 15-3A 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 year 2015 is 200% of dred labor Information on the company's production activities during May 2015 follows a. Purchased raw materlials on credit,$200,000 b. Materials requisitions record use of the following materials for the month Job 136 ob 137 Job 138 Job 139 Job 140 s 49,000 32,500 19,600 23,200 7400 Total direct materials Indirect materials 20,500 Total materials used $152,200 C. Paid $15750 cash to a computer consultant to reprogram factory equipment d. Time tickets record use of the follawing labor for the month. These wages were paid in cash Job 136 Job 137 Job 138 Job 139 Job 140 $ 12,200 0,800 37500 39,200 4,000 Total direct labor Indirect labor 03700 26,000 Total $129,700

Answers

Job No. 136 Job No.137 Job No. 138 Job No. 139 Job No.140 Materials (d.) Labor (e.) Overhead (200% of labor) Total cost 23200Transaction General Journal Debit Credit 200000 Raw materials inventory Accounts payable 200000 Factory payroll Cash 129700 1h(2). (hint!) Cost of goods sold 218700 Finished goods inventory 218700 155500 Factory overhead Accum.</p><p>Depreciation--FactoryRaw Material Inventor Finished goods Inventory 200000 358500 152200 217700 End. Bal 47800 End. Bal 140800 Goods in Process InReports of Job Costs Goods in Process Inventory Job 137 Job 140 64900 19400 84300 140800 140800 85600 Balance Finished Goods

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