Required information Problem 2-4A (Static) Preparing job cost sheets, recording costs, preparing inventory ledger accounts LO P1, P2, P3 [The following information applies to the questions displayed below) Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's production activities during May follows: o. Purchased raw materials on credit, $200,000 b. Materials requisitions record use of the following materials for the month Job 138 Job 137 Job 13 Sob 10 Joh 100 Total direct materials Indirect materials Total materials requisitions 5.41,000 32.000 29,200 22,400 0,400 120,000 19.500 5 147,500 c. Time tickets record use of the following labor for the month These wages were paid in cash ob 150 313 ob 19 5 12.00 10.00 17.500 Job 136 Job 137 Job 138 Job 139 Job 140 Total direct labor Indirect labor Total labor cost $ 12,000 10,500 37,500 19.00 3,000 102,000 28. $ 126,000 d. Applied overhead to Jobs 136, 138 and 139 e Transferred Jobs 136, 138, and 39 to Finished Goods Inventory 1. 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 Depreciation of factory equipment Expired factory Insurance Accrued property taxes payante $ 60,000 35.500 10.000 35.000 L. Applied overhead at month-end to the Work in Process Inventory account for Job 137 and Job 140) using the predetermined overhead rate of 200% of duect labor cost Problem 2-4A (Static) Part 2 2. Prepare journal entries to record the events and transactions a through Answer is not complete. NO Transaction Gehe Journal tablet 200,000 1 a Raw materials inventory Accounts payable SIS 200,000 2 b(1) Work in process inventory Factory overhead Raw materials inventory 128.000 19.500 147.500 3 b12) 19,500 Work in process inventory Indirect labor X 4 (0) X 15 000 Factory overhead Cash 15 000 6 d Work in proces Inventory Cont of goods manufactured Cash 101000 R40003 * 126.000 & 7 e Work in process inventory Cost of goods manufactured 177,000 >> 177,000 8 . Finished goods inventory Work in process inventory 355.100 X 355,100 9 9 Accounts receivable Sales 525.000 x 525.000 10 h Cost of good manufactured Accumulated depreciation Factory building Accumulated depreciation Factory equipment 149,500 68.000 36,500 3 BOX Prepaid insurance Property taxes payable 10,000 35,000 11 1 Work in process inventory Cost of goods manufactured 27.000 SIX 27,000