4. The Commonwealth Company uses a job-order costing system and applies manufacturing overhead cost to jobs using a predetermined overhead rate based on the cost of materials used in production. At the beginning of the year, the following estimates were made as a basis for computing the predetermined overhead rate: manufacturing overhead cost, $186,000; direct materials cost, $155,000. The following transactions took place during the year (all purchases and services were acquired on account): a. Raw materials purchased, $96,000. b. Raw materials requisitioned for use in production (all direct materials), $88,000. c. Utility bills incurred in the factory, $17,000. d. Costs for salaries and wages incurred as follows: Direct labor... Indirect labor.. Selling and administrative salaries... $174,000 $70,000 $124,000 e. Maintenance costs incurred in the factory, $12,000. f. Advertising costs incurred, $98,000. g. Depreciation recorded for the year, $75,000 (75 percent relates to factory assets and the remainder relates to selling, general, and administrative assets). h. Rental cost incurred on buildings, $80,000 (80 percent of the space is occupied by the factory, and 20 percent is occupied by sales and administration). . Miscellaneous selling, general, and administrative costs incurred, $12,000. j. Manufacturing overhead cost was applied to jobs. k. Cost of goods manufactured for the year, $480,000. 1. Sales for the year (all on account) totaled $900,000. These goods cost $550,000 to manufacture. Required: Prepare journal entries to record the information above. Key your entries by the letters a through 1. (7marks)