warmer watercraft's predetermined overhead rate for year 2015 is 200% of direct lator company's production activities during May 2015 follows formation on the a. Purchased raw msterials on credit, $240,000 b. Materials requisitions record use of the folowing meterials for the month Job 136 Job 137 Job 138 Job 139 Job 140 $49,000 2.500 9.400 22.600 7400 Total direct materials Indirect materials 130.900 20.500 Total materials used $ 151,400 c. Paid $16,000 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 $ 12100 10.600 37,500 39.400 3,400 Total direct labor Indirect labor 103,000 26,500 Total $129,500 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 $525000 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 $69.000 38,000 11,000 35,500 . Applied overhead at month-end to the Work in Process iInventory account (Jobs 137 and 140) using the predetermined overhead rate of 200% of direct labor cost. 10.00 points 3. Prepare T-accounts for each of the following general ledger accounts, each of which started the month with a zero balance: Raw Materials Inventory, Work in Process Inventory, Finished Goods Inventory Factory Payroll, Factory Overhead, Cost of Goods Sold. Post the joumal entries from Part 2 to the following T-accounts Raw Mat 151,400 S240,000 End.bal 88,600 End.bal. 20,500 26,500 End.bal. End bal. 47,000 Cost of Goods Sold 217,000 217,000 End.bal. Check my work 14. 10.00 points value: 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 Report of Job Costs Work in Process Inventory Job 137 Job 140 $ 43,100 7,400 Balance 50,500 Finished Goods Inventory Job 139 22,600 Balance 22,600 Cost of Goods Sold Job 136 Job 138 49,000 19,400 Balance S68,400