Required information (The following information applies to the questions displayed below.) Widmer 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, $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 $ 50,000 33,500 20,000 23,000 7,000 133,500 21,500 $155.000 c. Pald $15,500 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 10,700 37,700 39,400 3,000 103,000 25,000 $120,000 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 $530,000 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 $ 70,000 38,000 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. 2. Prepare journal entries to record the events and transactions a through I. No Transaction Credit X Answer is not complete. General Journal Raw materials inventory Accounts payable Debit 260,000 00 260,000 2 b. Cash 3 15,500 Factory overhead Cash 15,500 d. Work in process inventory Factory overhead Raw materials inventory 5 e. Work in process inventory Factory overhead Accounts payable 600 00 00 00 f. Work in process inventory Factory overhead X X g(1). Finished goods inventory Work in process inventory 8 9(2). Accounts receivable Sales X X g | Cost of goods sold Finished goods inventory T 10 T . Factory overhead Accum. depreciationFactory building Accum. depreciationFactory equipment