Required information [The following information applies to the questions ollsplayed below) Widmer Watercraft's predetermined overhead rate is 200% of direct labot. Information on the company's production activities during May follows. a. Purchased raw materials on credit. $240,000 b. Materials requisitions record use of the following materials for the month. Job 136 Job 137 Job 138 Job 129 Job 140 Total direct materials Indirect materials Tatal materials used 5 48,500 34,000 19.600 23,000 7,400 1320e 21,000 $153,500 c. Pald $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 13 Job 159 Job 140 Total direct labor Indirect labor Total $ 12,200 10.600 37.700 39,400 1,400 26,000 5129,300 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 $535,000 h. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory Insurance) 2. Prepare journal entries to record the events and transactions through / Vlow transaction at View journal entry worksheet X Credit Debit 240,000 240,000 Record raw material purchases on credit. Record the requisition of direct and indirect materials. Record payment to computer consultant to reprogram factory equipment 132,500 21,000 163,500 4 Record the entry for direct and indirect labor, paid in cash Record the entry to apply overhead to jobs 136, 138 and 139. Record the transfer of completed jobs 136,138 and 139 to finished goods Note: = journal entry has been entered i be here to search