Ultimate Yachts predetermined overhead rate is 200% of direct labor. Information on the companys production activities during May follows.

1. Purchased raw materials on credit, $240,000.
2. Materials requisitions record use of the following materials for the month.

Job 136	$	50,000
Job 137		32,000
Job 138		20,000
Job 139		22,800
Job 140		6,600
Total direct materials		131,400
Indirect materials		20,500
Total materials used	$	151,900

3. Paid $15,750 cash to a computer consultant to reprogram factory equipment.
4. Time tickets record use of the following labor for the month. These wages were paid in cash.

Job 136	$	12,200
Job 137		10,800
Job 138		37,700
Job 139		39,200
Job 140		3,000
Total direct labor		102,900
Indirect labor		24,500
Total	$	127,400

5. Applied overhead to Jobs 136, 138, and 139.
6. Transferred Jobs 136, 138, and 139 to Finished Goods.
7. Sold Jobs 136 and 138 on credit at a total price of $530,000.
8. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance).

Depreciation of factory building	$	69,500
Depreciation of factory equipment		36,500
Expired factory insurance		11,000
Accrued property taxes payable		35,500

9. 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.

3. Post the journal entries for the transactions to the following T-accounts, each of which started the month with a zero balance.