Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's production activities during May follows. a. Purchased raw materials on credit, $220,000. b. Materials requisitions record use of the following materials for the month. Job 136 3ob 137 Job 138 $ 49,500 33,500 19,600 Job 139 Job 140 Total direct materials Indirect materials Total materials requisitions 22,600 7,000 132,200 21,500 $153,700 c. Time tickets record use of the following labor for the month. These wages were paid in cash. 300 136 Job 137 $ 12,200 10,000 Job 138 37,500 Job 139 39,200 Job 140 3,000 Total direct labor 102,700 Indirect labor 25,500 Total labor cost $128,200 d. Applied overhead to Jobs 136, 138, and 139 e. Transferred Jobs 136, 138, and 139 to Finished Goods Inventory. f. Sold Jobs 136 and 138 on credit at a total price of $545,000 g. Recorded the cost of goods sold for Jobs 136 and 138 1.Appled 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 3. Post the journal entries for the transactions to the following T-accounts, each of which started the month with a zero balance. Raw Materials entory Work in Process Inventory 14 220.000 Don Ending balance 220.000 Ending balance Factory Overhead Fasished Goods Inventory Ending balance Cest of Goods Sol Ending seance Ending becance Prav 4. (a) Compute the total cost of each job in process and prove that the sum of their costs equals the Work in Process Inventory account balance. (b) Compute the total cost of each job finished but not sold, and prove that the sum of their costs equals the Finished Goods Inventory balance. (c) Compute the total cost of each job sold, and prove that the sum of their costs equals the Cost of Goods Sold balance. Total Job Costs (a) Work in Process Inventory Balance (b) Finished Goods Inventory Balance (c) Cost of Goods Sold Balance