1- Ch 3 Required Information [The following Information applies to the questions displayed below Widmer Watercraft's predetermined overhead rate for the year 2017 s 200% of direct labor. Information on the company production activities during May 2017 follows. a. Purchased raw materials on credit. $240,000. b. Materials requisitions record use of the following materials for the month. $50,000 Job 136 Job 132 Job 138 Job 13 Job 140 Total direct aterials Indirect sterials Total uterials used 19,500 22,50 7.200 132, 20.00 5151,700 Pald $15,500 cash to a computer consultant to reprogram factory equipment d. Time tickets record use of the folowing labor for the month. These wages were paid in cash $12,200 18, 37. 239 Total direct labor Indirect la Total 3,60 163, 160 24.60 $127.100 c. Applied overhead to Jobs 136, 138, and 139 Transferred Jobs 136, 130. and 139 to Finished Goods 9. Sold Jobs 136 and 130 on credit at a total price of $545.000 h. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory Depreciation of factory building 368,50 27.50 1. 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 3. Post the journal entries for the transactions to the following accounts, each of which started the month with a zero balance Raw Materials inventory 39,800 163, 160 Job 13 300 140 Total direct labor Indirect labor Total $127,100 e. Applied overhead to Jobs 136, 138, and 139. Transferred Jobs 136, 138, and 139 to Finished Goods g. Sold Jobs 136 and 138 on credit at a total price of $545,000 h. The company incurred the following overhead costs during the month (credit Prepold Insurance for expire Insurance) Depreciation of factory building Depreciation of factory equipment Expired factory Insurance Accrued property taxes payable $68,500 37.500 11.30 37.000 L Applied overhead at month-end to the Work In Process Inventory account (Jobs 137 and 140) using the pres overhead rate of 200% of direct labor cost. 3. Post the journal entries for the transactions to the following T-accounts, each of which started the month with a ze Raw Materials Inventory Work In Process Inventory Endbe Endbal Factory Overhead Finiched Goods Inventory End.ba Endba Cost of Goods Bold Endba