Required information [The following information applies to the questions displayed below.] Widmer Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's production activities during May follows. a. Purchased raw materials on credit, $260,000. b. Materials requisitions record use of the following materials for the month. Job 136 Job 137 Job 138 Job 139 Job 140 Total direct materials Indirect materials Total materials used $ 49,500 32,000 19,400 22,600 7,200 130,700 20,000 $150,700 C. Paid $15,750 cash to a computer consultant to reprogram factory equipment. d. Time tickets record use of the following labor for the month. These wages were paid in cash. Job 136 Job 137 Job 138 Job 139 Job 140 Total direct labor Indirect labor Total $ 12,200 10,600 37,900 39,200 3,200 103, 100 25,500 $128,600 e. Applied overhead to Jobs 136, 138, and 139. f. Transferred Jobs 136, 138, and 139 to Finished Goods. g. Sold Jobs 136 and 138 on credit at a total price of $545,000. h. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance) Depreciation of factory building Depreciation of factory equipment Expired factory insurance Accrued property taxes payable $68,000 37,000 11,000 36,000 i. Applied overhead at month-end to the Work in Process Inventory account (Jobs 137 and 140) using the predetermined overhead rate of 200% of direct labor cost. Required: 1. Prepare a job cost sheet for each job worked on during the month. Job No. 139 Materials Job No. 136 $ 49,500 12,200 Job No. 137 $ 32,000 10,600 Job No. 138 $ 19,400 37,900 $ 22,600 Job No. 140 $ 7,200 3,200 Labor 39,200 Overhead Total cost $ 61,700 $ 42,600 $ 57,300 $ 61,800 $ 10,400 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. Raw Materials Inventory 200,000 153,400 b. Work in Process Inventory 132,400 a. b. End.bal. 46,600 End.bal. 132,400 Factory Overhead Finished Goods Inventory End.bal. End.bal. Cost of Goods Sold End.bal. 0 4. Prepare a report showing the total cost of each job in process and prove that the sum of their costs equals the Work in Process Inventory account balance. Prepare similar reports for Finished Goods Inventory and Cost of Goods Sold. Report of Job Costs Work in Process Inventory Balance Finished Goods Inventory Balance Cost of Goods Sold Balance