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, $260,000.
Materials requisitions record use of the following materials for the month.
Job 136 $ 49,500
Job 137 33,000
Job 138 20,200
Job 139 22,400
Job 140 7,000
Total direct materials 132,100
Indirect materials 20,000
Total materials used $ 152,100
Paid $15,250 cash to a computer consultant to reprogram factory equipment. Time tickets record use of the following labor for the month.
These wages were paid in cash.
Job 136 $ 12,200
Job 137 10,500
Job 138 37,900
Job 139 39,200
Job 140 3,600
Total direct labor 103,400
Indirect labor 26,500
Total $ 129,900
Applied overhead to Jobs 136, 138, and 139.
Transferred Jobs 136, 138, and 139 to Finished Goods.
Sold Jobs 136 and 138 on credit at a total price of $535,000.
The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance).
Depreciation of factory building $ 68,000
Depreciation of factory equipment 37,500
Expired factory insurance 12,000
Accrued property taxes payable 37,000
Applied overhead at month-end to the Work in Process Inventory account (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.
2. Prepare journal entries to record the events and transactions a through i.
3. Post the journal entries for the transactions to the following T-accounts, each of which started the month with a zero balance.
4. Prepare a report showing the total cost of each job in process and prove that the sum of their costs equals the Work in Process Inventory account balance.
5. Prepare similar reports for Finished Goods Inventory and Cost of Goods Sold.

On april 1, 2017, jiro nozomi created a new travel agency, adventure travel. the following transactions occurred during the company’s first month. april 1 nozomi invested $30,000 cash and computer equipment worth $20,000 in the company in exchange for common stock.2 the company rented furnished office space by paying $1,800 cash for the first month's (april) rent.3 the company purchased $1,000 of office supplies for cash.10 the company paid $2,400 cash for the premium on a 12-month insurance policy. coverage begins on april 11.14 the company paid $1,600 cash for two weeks' salaries earned by employees.24 the company collected $8,000 cash on commissions from airlines on tickets obtained for customers.28 the company paid $1,600 cash for two weeks' salaries earned by employees.29 the company paid $350 cash for minor repairs to the company's computer.30 the company paid $750 cash for this month's telephone bill.30 the company paid $1,500 cash in dividends. the company's chart of accounts follows: 101 cash 405 commissions earned106 accounts receivable 612 depreciation expense—computer equip.124 office supplies 622 salaries expense128 prepaid insurance 637 insurance expense167 computer equipment 640 rent expense168 accumulated depreciation—computer equip. 650 office supplies expense209 salaries payable 684 repairs expense307 common stock 688 telephone expense318 retained earnings 901 income summary319 dividends use the following information: two-thirds (or $133) of one month’s insurance coverage has expired.at the end of the month, $600 of office supplies are still available.this month’s depreciation on the computer equipment is $500.employees earned $420 of unpaid and unrecorded salaries as of month-end.the company earned $1,750 of commissions that are not yet billed at month-end. required: 1. & 2. prepare journal entries to record the transactions for april and post them to the ledger accounts in requirement 6b. the company records prepaid and unearned items in balance sheet accounts.3. using account balances from requirement 6b, prepare an unadjusted trial balance as of april 30.4. journalize and post the adjusting entries for the month and prepare the adjusted trial balance.5a. prepare the income statement for the month of april 30, 2017.5b. prepare the statement of retained earnings for the month of april 30, 2017.5c. prepare the balance sheet at april 30, 2017.6a. prepare journal entries to close the temporary accounts and then post to requirement 6b.6b. post the journal entries to the ledger.7. prepare a post-closing trial balance.

Kando company incurs a $9 per unit cost for product a, which it currently manufactures and sells for $13.50 per unit. instead of manufacturing and selling this product, the company can purchase product b for $5 per unit and sell it for $12 per unit. if it does so, unit sales would remain unchanged and $5 of the $9 per unit costs assigned to product a would be eliminated. 1. prepare incremental cost analysis. should the company continue to manufacture product a or purchase product b for resale? (round your answers to 2 decimal places.)

Emil motycka is considered an entrepreneur because