Problem $2-4$A $($Algo$)$ Preparing job cost sheets, recording costs, preparing inventory ledger accounts LO i$.$ 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. Required information

$\backslash$table$[[$No$,$Transaction,General Journal,Debit,Credit$],[1,$a$.,$Raw materials inventory,grad,$220,000,],[,$Accounts payable,V$,,220,000$vv$],[2,$b$(1),$Work in process inventory,$($V$),131,900,],[,$Raw materials in Assessment Tool iFrame,V$,21,000\backslash$times $,],[3,$b$(2).,$Factory overhead,$($V$),21,000,],[,$Raw materials inventory,$,,21,000],[4,$c$(1).,$Work in process inventory,$($V$),,],[,$Cash,V$,,],[5,$c$(2).,$Factory overhead,$,,],[,$Cash,V$,,],[6,$d$.,$Work in process inventory,$($V$),179,400,],[,$Factory overhead,$($V$),,179,400],[7,$e$.,$Finished goods inventory,grad,$361,700,],[,$Work in process inventory,V$,,361,700$vv$],[8,$f$.,$Accounts receivable,$($V$),,],[,$Sales,$,,],[9,$g$.,$Cost of goods sold,$($V$),,],[,$Finished goods inventory,$,,],[10,$h$.,$Accumulated depreciation$-$Factory building,$\backslash$times $,,],[,$Accumulated depreciation$-$Factory equipment,$,,],[,,$a$,,]]\backslash$table$[[\{$

$\backslash$table$[[$Assessment Tool iFrame$]]\},$Work in process inventory,v$,361,700()],[,,],[8,$f$.,$Accounts receivable,$(,],[,$Sales,grad,$],[9,$g$.,.,$Cost of goods sold,$(,],[,$Finished goods inventory,V$,],[10,$h$.,$Accumulated depreciation$-$Factory building,x$,],[,$Accumulated depreciation$-$Factory equipment,V$,],[,$Prepaid insurance,V$,],[,$Property taxes payable,V$,],[11,$i$.,$Work in process inventory,V$,],[,$Factory overhead,V$,]]$

P$1,$ P$2,$ P$3$

$[$The following information applies to the questions displayed below.$]$

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

during May follows.

a$.$ Purchased raw materials on credit, $$220,000.$

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

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

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

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

f$.$ Sold Jobs $136$ and $138$ on credit at a total price of $$540,000.$

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

h$.$ Incurred the following actual other overhead costs during the month.

i$.$ Applied overhead at month$-$end to the Work in Process Inventory account $($for Job $137$ and $140)$ using the

nredetermined nverhead rate of $20\%$ of direct lahor rost