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, $200.000. 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 $ 49,000 33,500 19,400 23,000 6,600 131,500 Total materials requisitions 28,000 $ 151, 500 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 $ 12,300 10,700 38,100 39,400 Job 140 Total direct labor Indirect labor 3,600 104,100 26,000 Total labor cost $ 130,100 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 following actual other overhead costs during the month. Depreciation of factory building Depreciation of factory equipment Expired factory insurance Accrued property taxes payable $ 69,000 38,000 11,000 35,500 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. Problem 2-4A (Algo) Part 2 2. Prepare journal entries to record the events and transactions a through View transaction list View journal entry worksheet No Transaction General Journal 1 a. Raw materials inventory Accounts payable 2 b(1). Work in process inventory Factory overhead 3 b(2) Raw materials inventory Debit Credit 200.000 200,000