Dasl X LUXl X 1 Luxl X G next X RPM RPM X R Boo X * NEX X @ The X & Elsk X . Elsk X Nex X MC X Que X Cou X G ecol X + C https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmg... ( * CH 19 EOC Quiz i Saved Help Save & Exit Submit Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's production activities during May follows. 2 a. Purchased raw materials on credit, $220,000. b. Materials requisitions record use of the following materials for the month. Job 136 $ 49 , 500 Job 137 33, 000 Part 2 of 4 Job 138 20 , 000 Job 139 23, 400 Job 140 6, 800 Total direct materials 132 , 700 Indirect materials 19 , 500 Total materials requisitions $ 152, 200 c. Time tickets record use of the following labor for the month. These wages were paid in cash. Job 136 $ 12, 000 Job 137 10 , 600 Job 138 37 , 700 Job 139 39, 200 Job 140 3 , 600 Total direct labor 103 , 100 Indirect labor 25 , 500 Total labor cost $ 128, 600 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 $525,000. 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 $ 68, 000 Depreciation of factory equipment 38 , 000 Expired factory insurance 11, 000 Accrued property taxes payable 36 , 000 i. Applied overhead at month-end to the Work in Process Inventory account (for Job 137 and 140) using the mwadataumsinnad - Mc Graw HillDasl X LUXL X 1 Luxl X G next X RPM RPM X R Boo X * NEX X @ The X & Elsk X . Elsk X Nex X MC X Que X Cou X G ecol X + C https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmg... dj * CH 19 EOC Quiz i Saved Help Save & Exit Submit predetermined overhead rate of 200% of direct labor cost. 2 2. Prepare journal entries to record the events and transactions a through i. Part 2 of 4 View transaction list 1 Record raw material purchases on credit. 11 2 Record the requisition of direct materials. 3 Record the indirect materials. 4 Record the entry for direct labor, paid in cash. 5 Record the entry for indirect labor, paid in cash. Credit Record the entry to apply overhead to jobs 136, 138 and 139. Record the transfer of completed jobs 136, 138 and 139 to finished goods. Note : = journal entry has been entered Record entry Clear entry View general journal Mc Graw HillDasl X LUXL X Luxl X G next X RPM RPM X R Boo X * NEX X @ The X & Elsk X . Elsk X Nex X MC X Que X Cou X G ecol X + C https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmg... (1 % CH 19 EOC Quiz i Saved Help Save & Exit Submit 2 . 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. Part 2 of 4 2. Prepare journal entries to record the events and transactions a through i. View transaction list Record the entry to apply overhead to jobs 136, 138 and 11 > 139. 7 Record the transfer of completed jobs 136, 138 and 139 to finished goods. Record the entry for sales on account for Jobs 136 and 138. Credit Record the entry for the cost of jobs 136 and 138. 10 Record the entry for the actual overhead costs incurred. 11 Record the entry to apply overhead to Jobs 137 and 140 (Work in Process). Note : = journal entry has been entered Record entry Clear entry View general journal Mc Graw Hill