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

1. Purchased raw materials on credit, $240,000.
2. Materials requisitions record use of the following materials for the month.

Job 136	$	49,500
Job 137		32,500
Job 138		19,600
Job 139		23,200
Job 140		7,200
Total direct materials		132,000
Indirect materials		20,500
Total materials used	$	152,500

3. Paid $15,000 cash to a computer consultant to reprogram factory equipment.
4. Time tickets record use of the following labor for the month. These wages were paid in cash.

Job 136	$	12,300
Job 137		10,700
Job 138		37,900
Job 139		39,000
Job 140		4,000
Total direct labor		103,900
Indirect labor		24,500
Total	$	128,400

5. Applied overhead to Jobs 136, 138, and 139.
6. Transferred Jobs 136, 138, and 139 to Finished Goods.
7. Sold Jobs 136 and 138 on credit at a total price of $535,000.
8. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance).

Depreciation of factory building	$	68,500
Depreciation of factory equipment		37,000
Expired factory insurance		11,000
Accrued property taxes payable		35,000

9. 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.

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.