Required information [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. a. Purchased raw materials on credit, $220,000. b. Materials requisitions record use of the following materials for the month. Job 136 Job 137 Job 138 Job 139 Job 1401 Total direct materials Indirect materials Total materials requisitions $ 50,000 33,000 19,600 23,200 6,400 132,200 19,500 $151,700 c. Time tickets record use of the following labor for the month. These wages were paid in cash. Job 136 $ 12,300 Job 137 10,700 Job 138 37,900 Job 139 39,400 Job 140 4,000 Total direct labor 104,300 Indirect labor 24,000 Total labor cost $128,300 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 $550,000. 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 payable $ 69,000 37,000 10,000 37,000 1. 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