Prepare the entries:

1. Record the entry to apply overhead to jobs 136, 138, and 139

2. Record the transfer if completed jobs at 136, 138, and 139 to finished goods

3. Record the entry for the cost of jobs 136 and 138

4. Record the entry for the actual overhead costs incurred

5. Record the entry to apply overhead to jobs 137 and 140 (work in process)

Watercraft's predetermined overhead rate is 200% of diroct 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 maturials for the month. c. Time tickets record use of the following labor for the month. These wages were paid in cash. 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. i. 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. 2. Prepare journal entries to record the events and transactions a through b