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

Purchased raw materials on credit, $220,000.

Materials requisitions record use of the following materials for the month.

Job 136	$ 48,500
Job 137	32,500
Job 138	19,600
Job 139	22,800
Job 140	6,800
Total direct materials	130,200
Indirect materials	19,500
Total materials requisitions	$ 149,700

Time tickets record use of the following labor for the month. These wages were paid in cash.

Job 136	$ 12,100
Job 137	10,700
Job 138	37,700
Job 139	39,200
Job 140	3,600
Total direct labor	103,300
Indirect labor	24,500
Total labor cost	$ 127,800

Applied overhead to Jobs 136, 138, and 139.

Transferred Jobs 136, 138, and 139 to Finished Goods Inventory.

Sold Jobs 136 and 138 on credit at a total price of $525,000.

Recorded the cost of goods sold for Jobs 136 and 138.

Incurred the following actual other overhead costs during the month.

Depreciation of factory building	$ 70,000
Depreciation of factory equipment	38,000
Expired factory insurance	12,000
Accrued property taxes payable	35,500

Applied overhead at month-end to the Work in Process Inventory account (for Job 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