answers seems to be incomplete/incorrect ?

Froya Fabrikker 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 predetermined overhead rate was based on a cost formula that estimated $357,000 of manufacturing overhead for an estimated allocation base of 1,020 direct labor-hours. The following transactions took place during the year: 159 a. Raw materials purchased on account, $260,000. b. Raw materials used in production (all direct materials) $245,000 c Utility bills incurred on account, $71,000 (80% related to factory operations, and the remainder related to selling and administrative activities) d. Accrued salary and wage costs: Direct labor (1,095 hours) Indirect labor Selling and administrative salaries $ 290,000 $ 102,000 $ 170,000 Check my w 4 e Maintenance costs incurred on account in the factory, 566,000 1. Advertising costs incurred on account, $148,000. g. Depreciation was recorded for the year, $84,000 (75% related to factory equipment, and the remainder related to selling and h. Rental cost incurred on account , $109,000 (80% related to factory facilities, and the remainder related to selling and administrative facilities) 1. Manufacturing overhead cost was applied to jobs, $_2 J. Cost of goods manufactured for the year, $890,000 k. Sales for the year (all on account) totaled $1,800,000. These goods cost $920,000 according to their job cost sheets. 5 points 00:10:02 ebook The balances in the inventory accounts at the beginning of the year were: Print References Raw Materials Work in Process Finished Goods $ 42,00 $ 33,000 $72,000 Required: 1. Prepare journal entries to record the preceding transactions 2 Post your entries to T-accounts. (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 Prepare a schedule of cost of goods manufactured. Froya Fabrikker A/S Schedule of Cost of Goods Manufactured Beginning work in process inventory Direct materials Beginning raw materials inventory 42,000 Add: Purchases of raw materials 260,000 Total raw materials available 302,000 Less: Ending raw materials inventory 57,000 Direct materials used in production Direct labor Manufacturing overhead applied to work in process Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured 245.000 290,000 383, 250 918,250 918,250 61.250 890,000 $ Prepare an income statement for the year. Froya Fabrikker A/S Income Statement For the Year Ended $ 1,800,000 911,750 888,250 Sales Cost of goods sold Gross margin Selling and administrative expenses: Utilities expense Advertising expenses Salaries expense Depreciation expense Rent expense $ $ 14,200 148.000 170.000 21.000 21,800 Net operating income 375.000 513,250 GA