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, $260,000. b. Materials requisitions record use of the following materials for the month. Job 136 Job 137 Job 138 Job 139 $ 50,000 33,000 19,600 23,000 Job 140 7,000 Total direct 132,600 materials Indirect materials 20,500 Total materials $ 153,100 requisitions c. Time tickets record use of the following labor for the month. These wages were paid in cash. Job 136 $ 12,300 Job 137 10,800 Job 138 37,900 Job 139 39,600 Job 140 3,800 Total direct 104,400 labor Indirect labor 24,000 $ Total labor cost 128,400 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 $535,000. 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 69,000 Depreciation of factory 36,500 equipment Expired factory insurance 11,000 Accrued property taxes 36,500 payable i. 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.