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Problem 2 - 4 A ( Algo ) Preparing job cost sheets, recording costs, preparing inventory ledger accounts LO P 1 , P 2 ,

Problem 2-4A (Algo) Preparing job cost sheets, recording costs, preparing inventory ledger accounts LO P1, P2, P3
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Watercrafts predetermined overhead rate is 200% of direct labor. Information on the companys production activities during May follows.
Purchased raw materials on credit, $220,000.
Materials requisitions record use of the following materials for the month.
Job 136 $ 48,500
Job 13732,500
Job 13820,000
Job 13923,000
Job 1407,000
Total direct materials 131,000
Indirect materials 21,500
Total materials requisitions $ 152,500
Time tickets record use of the following labor for the month. These wages were paid in cash.
Job 136 $ 12,100
Job 13710,600
Job 13837,500
Job 13939,600
Job 1403,800
Total direct labor 103,600
Indirect labor 26,000
Total labor cost $ 129,600
Applied overhead to Jobs 136,138, and 139.
Transferred Jobs 136,138, and 139 to Finished Goods Inventory.
Sold Jobs 136 and 138 on credit at a total price of $540,000.
Recorded the cost of goods sold for Jobs 136 and 138.
Incurred the following actual other overhead costs during the month.
Depreciation of factory building $ 68,500
Depreciation of factory equipment 37,500
Expired factory insurance 10,000
Accrued property taxes payable 36,000
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.
Problem 2-4A (Algo) Part 3
3. Post the journal entries for the transactions to the following T-accounts, each of which started the month with a zero balance.

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