4a 4b and 5 not answered... thank you

signment Print View Page 1 Award: 5.00 points Froya Faber A/S of Bergen, Norway, is a small company that manufactures specialty heavy equipment for use in North Sea oil fields. The company uses a job-order costing system that applies manufacturing overhead cost to jobs on the basis of direct labor-hours its predeterm Overhead rate was based on a cost formula that estimated $350,000 of manufacturing overhead for an estimated allocation base of 1000 G labor-hours. The following transactions took place during the year: Raw materials purchased on account $250.000 b. Raw materials used in production (all direct materials), 3235,000 c Utility bills incurred on account. 369,000 (90% related to factory operations, and the remainder related to selling and administrative acth d. Accrued salary and wage costs Direct labor (1.075 hours) Indirect labor Selling and administrative salaries $ 280,000 $ 100,000 $ 180.000 . Maintenance costs incurred on account in the factory, 564,000 f. Advertising costs incurred on account, $140,000 0. Depreciation was recorded for the year, 582,000 (75% related to factory equipment, and the remainder related to selling and adminis equipment h Rental cost incurred on account. $107.000 (80% related to factory facilities, and the remainder related to selling and administrative Manufacturing overhead cost was applied to jobs, S_? Cost of goods manufactured for the year. $870,000. K Sales for the year (all on account) totaled $1,700,000. These goods cost $900,000 according to their job cost sheets. - The balances in the inventory accounts at the beginning of the year were: Raw Materials Work in Process Finished Goods $ 40,000 $31.000 $ 70,000 Required: 1. Prepare journal entries to record the preceding transactions 2. Post your entries to Taccounts. (Don't forget to enter the beginning inventory balances above.) 3. Prepare a schedule of cost of goods manufactured 4A Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold 48. Prepare a schedule of cost of goods sold 5. Prepare an income statement for the year