Widmer 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, $260,000. 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 Total materials used $ 48,000 33,000 19,600 23,200 7,200 131,000 21,000 $152,000 c. Paid $15,250 cash to a computer consultant to reprogram factory equipment. d. 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 Job 140 Total direct labor Indirect labor $ 12,200 10,800 37,900 39,200 3,000 103,100 26,000 $129,100 Total e. Applied overhead to Jobs 136, 138, and 139. f. Transferred Jobs 136, 138, and 139 to Finished Goods. g. Sold Jobs 136 and 138 on credit at a total price of $530,000. h. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance) Depreciation of factory building Depreciation of factory equipment Expired factory insurance Accrued property taxes payable $68,500 38,000 12,000 35,500 i. 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. Problem 19-3A Part 1 Required: 1. Prepare a job cost sheet for each job worked on during the month. Job No. 136 Job No. 137 Job No. 138 Job No. 139 Job No. 140 Materials Labor Overhead Total cost 1 Record raw material purchases on credit. 2 Record the requisition of direct and indirect materials. 3 Record payment to computer consultant to reprogram factory equipment. 4 Record the entry for direct and indirect labor, paid in cash. 5 Record the entry to apply overhead to jobs 136, 138 and 139. 6 Record the transfer of completed jobs 136,138 and 139 to finished goods. 7 Record the entry for sales on account for Jobs 136 and 138. 8 Record the entry for the cost of sales of Jobs 136 and 138. 9 Record other factory overhead (depreciation, insurance and property taxes). 10 Record the entry to apply overhead to Jobs 137 and 140 (Work in Process). 3. Post the journal entries for the transactions to the following T-accounts, each of which started the month with a zero Raw Materials Inventory Work in Process Inventory End.bal. End.bal Factory Overhead Finished Goods Inventory End.bal. End.bal. Cost of Goods Sold End.bal