Widmer Watercrafts predetermined overhead rate for year 2015 is 200% of direct labor. Information on the companys production activities during May 2015 follows.

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

Job 136	$	50,000
Job 137		32,000
Job 138		19,800
Job 139		22,600
Job 140		6,400
Total direct materials		130,800
Indirect materials		21,000
Total materials used	$	151,800

c.	Paid $15,000 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	$	12,300
Job 137		10,600
Job 138		37,900
Job 139		39,000
Job 140		4,000
Total direct labor		103,800
Indirect labor		24,000
Total	$	127,800

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 $545,000.
h.	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		37,500
Expired factory insurance		12,000
Accrued property taxes payable		36,500

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. Prepare a job cost sheet for each job worked on during the month.

Prepare journal entries to record the events and transactions a through i.

Prepare T-accounts for each of the following general ledger accounts, each of which started the month with a zero balance: Raw Materials Inventory, Work in Process Inventory, Finished Goods Inventory, Factory Payroll, Factory Overhead, Cost of Goods Sold. Post the journal entries from Part 2 to the following T-accounts

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.