Required information [The following information applies to the questions displayed below} 1Ii'ur'idmer Watercraft's predetermined overhead rate for the year 2017 is 200% of direct labor. Information on the company's production activities during May 2017 follows. a. Purchased raw materials on credit, $250,000. b. Materials requisitions record use of the following materials for the month. Job 136 $ 48,500 Job 13? 33,000 Job 133 20,000 Job 139 22,400 Job 140 6,300 Total direct materials 130,?00 Indirect materials 21,500 Total materials used 3152.200 c. Paid $15,250 cash to a computer consultant to reprogram factory equipment. :1. Time tickets record use of the following labor for the month. These wages were paid in cash. Job 136 $ 12,200 Job 13? 10.500 Job 133 37,500 Job 135 39.200 Job 140 3,300 Total direct labor 103,500 Indirect labor 25,500 Total $129,000 e. Applied overhead to Jobs 135, 138, and 139. f. Transferred Jobs 135, 133, and 139 to Finished Goods. 9. 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 $69,000 Depreciation of factory equipment 38,000 Expired factory insurance 10,000 Accrued property taxes payable 36,000 1. 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. 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. Work in Process Inventory _ Finished Goods Inventory Balance Cost of Goods Sold