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, $240,000 b. Materials requisitions record use of the following materials for the month Job 136 Job 137 Job 138 Job 139 Job 160 Total direct materials Indirect materials Total materials used $ 50,000 33,500 19,800 22,800 6,800 132,900 19,500 5152,400 c. Paid $16,000 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 Total $ 12,100 10,600 37,900 39,400 3,880 103,000 24,5ee $127,500 e. Applied overhead to Jobs 136, 138, and 139 1. Transferred Jobs 136, 138, and 139 to Finished Goods 9. Sold Jobs 136 and 138 on credit at a total price of $545,000, 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 $69,500 36,580 11,800 37,000 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 2. Prepare journal entries to record the events and transactions a through No Transaction Answer is complete but not entirely correct. General Journal Raw materials inventory Accounts payable Debit Credit a 240,000 240,000 . Work in process inventory Factory overhead Raw materials inventory 132 900 19 500 O 152,400 00 00 3 Factory overhead Cash 16,000 16,000 4 d Work in process inventory Factory overhead Cash Solo 103.000 24,500 127 500 5 e Work in process inventory Factory overhead 178,800 - 178,800 6 Finished goods inventory Work in process inventory Olo 360,800 360,800 7 911) > Accounts receivable Sales 545,000 545,000 8 9(2) Cost of goods sold Finished goods inventory 227 800 227 800 9 h 154.000 Factory overhead Accum depreciation-Factory building Accum depreciation --Factory equipment Prepaid insurance Property taxes payable 00 OOOOO 69,500 36,500 11.000 37,000 10 Work in process inventory Factory overhead 27200 27 200