15. A company's predetermined overhead rate is 130% of direct labor. Information on the company's production activities during January 2018 follows: a. Purchased raw materials on credit, $120,000 b. Paid $110,000 cash for factory wages. c. Paid $9,000 cash for miscellaneous factory overhead costs. d. Materials requisitions record use of the following materials for the month: Job 1 $50,000 30,000 Job 2 Job 3 11,000 Job 4 16,000 Job 5 8,000 Total direct materials 91,000 Indirect materials 19,000 Total materials used 110,000 e. Time tickets record use of the following labor for the month: Job 1 $7,000 Job 2 10,000 Job 3 37,000 Job 4 30,000 Job 5 8,000 Total direct labor 110,000 Indirect labor 22,000 Total 132,000 f. Allocated overhead to Jobs 1, 3, and 4. g. Transferred Jobs 1, 3, and 4 to Finished Goods. h. Sold Jobs 1 and 3 on credit for a total price of $590,000. i. The company incurred the following overhead costs during the month (credit Prepaid Insurance for the expired factory insurance): Depreciation of factory building $44,000 Depreciation of factory equipment 21,000 Expired factory insurance 13,050 | Accrued property taxes payable 41,300 j.Applied overhead at month-end to the Goods in Process (Jobs 2 and 5) using the predetermined overhead rate of 125% of direct labor cost. Date Accounts Debit Credit a b C d e f g h