Question: this is a 2 part question please solve Required information Problem 15-4A (Algo) Preparing job cost sheets, recording costs, preparing inventory ledger accounts LO P1,

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Required information Problem 15-4A (Algo) Preparing job cost sheets, recording costs, preparing inventory ledger accounts LO P1, P2, P3 [The following information applies to the questions displayed below] 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. Jab 136 Job 137 Job 138 Job 139 Job 140 Total direct materials Indirect materials Total materials requisitions Job 136 $.49,500 32,500 19,400 23,200 6,400 131,000 20,500 $ 151,500 c. Time tickets record use of the following labor for the month. These wages were paid in cash. $ 12,300 Job 136 Job 137 Job 138 Job 139 Job 140 Total direct labor Indirect labor Total labor cost $ 12,300 10,500 37,900 39,200 4,000 103,900 24,500 $ 128,400 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 $545,000. g. Recorded the cost of goods sold for Jobs 136 and 138. h. Incurred the following actual other overhead costs during the month. Depreciation of factory building Depreciation of factory equipment Expired factory insurance Accrued property taxes payable $ 70,000 38,500 10,000 35,500 were par casi L Applied overhead at month-end to the Work in Process Inventory account (for Job 137 and 140) using the predetermined overhead rate of 200% of direct labor cost. Problem 15-4A (Algo) Part 3 3. Post the journal entries for the transactions to the following T-accounts, each of which started the month with a zero balance. Raw Materials Inventory Ending balance Ending balance Ending balance 0 Factory Overhead Cost of Goods Sold Ending balance Ending balance Work in Process Inventory Finished Goods Inventory 4. (a) balance. Compute the total cost of each job in process and prove that the sum of their costs equals the Work in Process Inventory account (b) Compute the total cost of each job finished but not sold, and prove that the sum of their costs equals the Finished Goods Inventory balance. (c) Compute the total cost of each job sold, and prove that the sum of their costs equals the Cost of Goods Sold balance. Total Job Costs (a) Work in Process Inventory Balance (b) Finished Goods Inventory Balance (c) Cost of Goods Sold Balance $
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