Widmer Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's production activities during May follows: 2. 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: 140 Total direct materials Indirect materials Total materials used $50,800 33,580 19,800 22,800 6,800 132,980 19,500 $152,400 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 $ 12,180 10,600 37,900 39,400 3,000 103,000 24,500 $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 36,500 11,000 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 Answer is not complete. Transaction No General Journal Credit Debit 240,000 1 a Raw materials inventory Accounts payable 240,000 OO OOO 2 b Work in process inventory Factory overhead Raw materials inventory 132,900 19,500 152 400 3 C 16,000 Factory overhead Cash 16,000 4 d Work in process inventory Factory overhead Cash 103,000 24,500 O 127 500 5 e Work in process inventory Factory overhead O 6 1 Finished goods inventory Work in process inventory 7 9(1) Accounts receivable Sales 8 9(2) Cost of goods sold Finished goods inventory O 9 h Factory overhead Accum depreciation Factory building Accum depreciation-Factory equipment Prepaid insurance Property taxes payable OOOOO 69,500 36,500 11,000 37,000 10 1 Work in process inventory Factory overhead