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, $240,000. b. Materials requisitions record use of the following materials for the month.

Job 136	$ 49,000
Job 137	33,000
Job 138	19,600
Job 139	22,800
Job 140	7,200
Total direct materials	131,600
Indirect materials	20,000
Total materials requisitions	$ 151,600

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

Job 136	$ 12,100
Job 137	10,800
Job 138	37,700
Job 139	39,400
Job 140	3,200
Total direct labor	103,200
Indirect labor	25,500
Total labor cost	$ 128,700

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. h. Incurred the followingactual other overhead costs during the month.

Depreciation of factory building	$ 68,500
Depreciation of factory equipment	38,000
Expired factory insurance	11,000
Accrued property taxes payable	36,500

1. 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.

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

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 Inventory Work in Process Inventory Ending balance 0 Ending balance Factory Overhead Finished Goods Inventory Ending balance Ending balance 0 Cost of Goods Sold Ending balance 0