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 Job 137 Job 138 Job 139 Job 140 Total direct materials Indirect materials Total materials requisitions $ 48,500 34,000 19,800 23,000 7,000 132,300 21,500 $ 153,800 c. Time tickets record use of the following labor for the month. These wages were paid in cash. Job 136 Job 137 Job 138 Job 139 Job 140 Total direct labor Indirect labor Total labor cost $ 12,200 10,700 37,900 39,600 3,800 104,200 24,000 $ 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 $540,000. g. Recorded the cost of goods sold for Jobs 136 and 138. h. Incurred the following actual other overhead costs during the month. Depreciation of factory building Depreciation of factory equipment Expired factory insurance Accrued property taxes payable $ 69,500 37,500 11,000 35,500 i. 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. a. Raw Materials Inventory 220,000 150,600 (1) b(1) d. Work in Process Inventory 130,600 360,500 f. 104,100 e. 179,200 29,000 Ending balance 69,400 1. Ending balance 82,400 Factory Overhead 20,000 179,200 e 15,000 Finished Goods Inventory 360,500 219,700 g b(1) C(1). d. f. 24,000 h. 154,000 Ending balance 140.800 Ending balance 33,800