1. 2. Watercraft's predetermined overhead rate is 200% of direct labor. Information on the...

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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 $ 49,000 32,500 131,700 21,500 Total materials requisitions $ 153,200 Job 136 Job 137 Job 138 Job 139 Job 140 Total direct labor Indirect labor Total labor cost c. Time tickets record use of the following labor for the month. These wages were paid in cash. 20,000 23,000 7,200 $ 12,100 10,700 37,900 39,000 3,400 103,100 26,000 $ 129,100 d. Applied overhead to Jobs 136, 138, and 139. e. Transferred Jobs 136, 138, and 139 to Finished Goods Inventory. f. Sold Jobs 136 and 138 on credit at a total price of $535,000. g. Recorded the cost of goods sold for Jobs 136 and 138. h. Incurred the following actual other overhead costs during the month. 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 $ 49,000 32,500 131,700 21,500 Total materials requisitions $ 153,200 Job 136 Job 137 Job 138 Job 139 Job 140 Total direct labor Indirect labor Total labor cost c. Time tickets record use of the following labor for the month. These wages were paid in cash. 20,000 23,000 7,200 $ 12,100 10,700 37,900 39,000 3,400 103,100 26,000 $ 129,100 d. Applied overhead to Jobs 136, 138, and 139. e. Transferred Jobs 136, 138, and 139 to Finished Goods Inventory. f. Sold Jobs 136 and 138 on credit at a total price of $535,000. g. Recorded the cost of goods sold for Jobs 136 and 138. h. Incurred the following actual other overhead costs during the month.

Answer rating: 100% (QA)

a Purchased raw materials on credit 200000 Raw Materials Inventory 200000 Accounts Payable 200000 b Materials requisitions record use of the following materials for the month Job 136 49000 Job 137 325... View the full answer