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

Purchased raw materials on credit, $240,000.

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

Job 136	$ 50,000
Job 137	33,000
Job 138	19,400
Job 139	22,400
Job 140	7,000
Total direct materials	131,800
Indirect materials	20,500
Total materials requisitions	$ 152,300

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

Job 136	$ 12,200
Job 137	10,600
Job 138	37,700
Job 139	39,400
Job 140	4,000
Total direct labor	103,900
Indirect labor	24,500
Total labor cost	$ 128,400

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 $545,000.

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

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.

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