Westin Watercrafts predetermined overhead rate for year 2011 is 200% of direct labor. Information on the companys production activities during May 2011 follows. a. Purchased raw materials on credit, $125,000. b. Paid $84,000 cash for factory wages. c. Paid $11,000 cash to a computer consultant to reprogram factory equipment. d. Materials requisitions record use of the following materials for the month. Job 136 $ 30,000 Job 137 20,000 Job 138 12,000 Job 139 14,000 Job 140 4,000 Total direct materials 80,000 Indirect materials 12,000 Total materials used $ 92,000 e. Time tickets record use of the following labor for the month. Job 136 $ 8,000 Job 137 7,000 Job 138 25,000 Job 139 26,000 Job 140 2,000 Total direct labor 68,000 Indirect labor 16,000 Total $ 84,000 f. Applied overhead to Jobs 136, 138, and 139. g. Transferred Jobs 136, 138, and 139 to Finished Goods. h. Sold Jobs 136 and 138 on credit at a total price of $340,000. i. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance). Depreciation of factory building $ 37,000 Depreciation of factory equipment 21,000 Expired factory insurance 7,000 Accrued property taxes payable 31,000 j. Applied overhead at month-end to the Goods in Process (Jobs 137 and 140) using the predetermined overhead rate of 200% of direct labor cost. Part 1: Prepare journal entries to record the events and transactions a through j