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

1. Purchased raw materials on credit, $200,000.

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

Job 136	$ 48,000
Job 137	32,000
Job 138	19,200
Job 139	22,400
Job 140	6,400
Total direct materials	128,000
Indirect materials	19,500
Total materials requisitions	$ 147,500

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

Job 136	$ 12,000
Job 137	10,500
Job 138	37,500
Job 139	39,000
Job 140	3,000
Total direct labor	102,000
Indirect labor	24,000
Total labor cost	$ 126,000

1. Applied overhead to Jobs 136, 138, and 139.
2. Transferred Jobs 136, 138, and 139 to Finished Goods Inventory.
3. Sold Jobs 136 and 138 on credit at a total price of $525,000.
4. 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	$ 68,000
Depreciation of factory equipment	36,500
Expired factory insurance	10,000
Accrued property taxes payable	35,000

1. Applied overhead at month-end to the Work in Process Inventory account (for Job 137 and Job 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.