Problem $19-4$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, $$220,000.$

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

Job $136$$ $49,000$Job $13734,000$Job $13819,600$Job $13923,000$Job $1406,400$Total direct materials$132,000$Indirect materials$19,500$Total materials requisitions$ $151,500$

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

Job $136$$ $12,100$Job $13710,600$Job $13837,900$Job $13939,200$Job $1403,800$Total direct labor$103,600$Indirect labor$25,500$Total labor cost$ $129,100$

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 $$530,000.$

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$ $69,500$Depreciation of factory equipment$37,500$Expired factory insurance$10,000$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 $19-4$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.