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	$ 49,500
Job 137	33,000
Job 138	19,400
Job 139	22,600
Job 140	6,600
Total direct materials	131,100
Indirect materials	19,500
Total materials requisitions	$ 150,600

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

Job 136	$ 12,200
Job 137	10,500
Job 138	37,500
Job 139	39,200
Job 140	3,800
Total direct labor	103,200
Indirect labor	26,000
Total labor cost	$ 129,200

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 $535,000.

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	$ 69,000
Depreciation of factory equipment	37,500
Expired factory insurance	12,000
Accrued property taxes payable	35,000

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 i.

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