Problem $15-4$A $($Algo$)$ Preparing job cost sheets, recording costs, preparing inventory ledger accounts LO P$1,$ P$2,$ P$3$

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Watercraft$$s predetermined overhead rate is $200\%$ of direct labor. Information on the company$$s production activities during May follows.

Purchased raw materials on credit, $$240,000.$

Materials requisitions record use of the following materials for the month.

Job $136$ $ $49,000$

Job $13733,000$

Job $13819,400$

Job $13923,200$

Job $1407,200$

Total direct materials $131,800$

Indirect materials $21,000$

Total materials requisitions $ $152,800$

Time tickets record use of the following labor for the month. These wages were paid in cash.

Job $136$ $ $12,300$

Job $13710,600$

Job $13837,900$

Job $13939,600$

Job $1403,800$

Total direct labor $104,200$

Indirect labor $27,000$

Total labor cost $ $131,200$

Applied overhead to Jobs $136,138,$ and $139.$

Transferred Jobs $136,138,$ and $139$ to Finished Goods Inventory.

Sold Jobs $136$ and $138$ on credit at a total price of $$545,000.$

Recorded the cost of goods sold for Jobs $136$ and $138.$

Incurred the following actual other overhead costs during the month.

Depreciation of factory building $ $68,000$

Depreciation of factory equipment $38,500$

Expired factory insurance $11,000$

Accrued property taxes payable $36,000$

Applied overhead at month$-$end to the Work in Process Inventory account $($for Job $137$ and $140)$ using the predetermined overhead rate of $200\%$ of direct labor cost.

Problem $15-4$A $($Algo$)$ Part $3$

$3.$ Post the journal entries for the transactions to the following T$-$accounts, each of which started the month with a zero balance.