Widmer Watercrafts predetermined overhead rate for the year 2017 is 200% of direct labor. Information on the companys production activities during May 2017 follows.

Purchased raw materials on credit, $200,000.

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

Job 136	$	49,500
Job 137		33,000
Job 138		19,600
Job 139		23,000
Job 140		6,800
Total direct materials		131,900
Indirect materials		21,000
Total materials used	$	152,900

Paid $16,000 cash to a computer consultant to reprogram factory equipment.

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

Job 136	$	12,000
Job 137		10,500
Job 138		37,500
Job 139		39,000
Job 140		3,800
Total direct labor		102,800
Indirect labor		25,500
Total	$	128,300

Applied overhead to Jobs 136, 138, and 139.

Transferred Jobs 136, 138, and 139 to Finished Goods.

Sold Jobs 136 and 138 on credit at a total price of $550,000.

The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance).

Depreciation of factory building	$	69,000
Depreciation of factory equipment		38,500
Expired factory insurance		10,000
Accrued property taxes payable		35,000

Applied overhead at month-end to the Work in Process Inventory account (Jobs 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
End.bal.	0
					End.bal.	0
Factory Overhead					Finished Goods Inventory
					End.bal.	0
End.bal.	0
Cost of Goods Sold
End.bal.	0