Applied overhead at month-end to the goods in process jobs

Reference no: EM13580886

Widmer Watercraft's predetermined overhead rate for year 2013 is 200% of direct labor. Information on the company's production activities during May 2013 follows.

a.	Purchased raw materials on credit, $260,000.
b.	Paid $128,900 cash for factory wages.
c.	Paid $15,250 cash to a computer consultant to reprogram factory equipment.
d.	Materials requisitions record use of the following materials for the month.


Job 136	$	48,500
Job 137		33,000
Job 138		19,800
Job 139		22,800
Job 140		7,200

Total direct materials		131,300
Indirect materials		20,500

Total materials used	$	151,800

e.	Time tickets record use of the following labor for the month.


Job 136	$	12,000
Job 137		10,600
Job 138		37,700
Job 139		39,000
Job 140		3,600

Total direct labor		102,900
Indirect labor		26,000

Total	$	128,900

f.	Applied overhead to Jobs 136, 138, and 139.
g.	Transferred Jobs 136, 138, and 139 to Finished Goods.
h.	Sold Jobs 136 and 138 on credit at a total price of $545,000.
i.	The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance).


Depreciation of factory building	$	69,000
Depreciation of factory equipment		38,500
Expired factory insurance		11,000
Accrued property taxes payable		36,500

j.	Applied overhead at month-end to the Goods in Process (Jobs 137 and 140) using the predetermined overhead rate of 200% of direct labor cost.

Required:
1.	Prepare a job cost sheet for each job worked on during the month

Reference no: EM13580886

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Applied overhead at month-end to the goods in process jobs

Reference no: EM13580886

Reference no: EM13580886

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