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, $240,000. Materials requisitions record use of the following materials for the month. Job 136 $ 48,500 Job 137 33,000 Job 138 19,600 Job 139 23,200 Job 140 7,400 Total direct materials 131,700 Indirect materials 21,000 Total materials used $ 152,700 Paid $15,750 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 $ 12,200 Job 137 10,500 Job 138 37,500 Job 139 39,400 Job 140 3,400 Total direct labor 103,000 Indirect labor 26,000 Total $ 129,000 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 $525,000. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance). Depreciation of factory building $ 69,500 Depreciation of factory equipment 37,000 Expired factory insurance 12,000 Accrued property taxes payable 36,000 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. rev: 08_17_2017_QC_CS-95840 Problem 15-3A Part 1 Required: 1. Prepare a job cost sheet for each job worked on during the month. 2. Prepare journal entries to record the events and transactions a through i. 3. Post the journal entries for the transactions to the following T-accounts, each of which started the month with a zero balance. 4. Prepare a report showing the total cost of each job in process and prove that the sum of their costs equals the Work in Process Inventory account balance. Prepare similar reports for Finished Goods Inventory and Cost of Goods Sold.