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Required information Skip to question [ The following information applies to the questions displayed below. ] Watercraft s predetermined overhead rate is 2 0 0

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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, $240,000.
Materials requisitions record use of the following materials for the month.
Job 136 $ 49,500
Job 13733,500
Job 13819,400
Job 13923,200
Job 1406,800
Total direct materials 132,400
Indirect materials 20,000
Total materials requisitions $ 152,400
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 13939,400
Job 1403,800
Total direct labor 103,400
Indirect labor 25,500
Total labor cost $ 128,900
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 $550,000.
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 $ 69,500
Depreciation of factory equipment 38,000
Expired factory insurance 12,000
Accrued property taxes payable 37,000
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.
2. Prepare journal entries to record the events and transactions a through i.
3. Post the journal entries for the transactions to the following T-accounts, each of which started the month with a zero balance.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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