\begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Depreciation Expense } \\ \hline Beginning Balance & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending Balance & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Debit Rent Expense } \\ \hline Beginning Balance: & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Ending Balance Accumulatind Depreciation Advertising Expanss Salarite Expense Complete this question by entering your answers in the tabs below. Prepare an income statement for the year. Froya Fabrikker AS of Bergen, Norway, is a small company that manufactures specialty heavy equipment for use in North Sea oll fields. The company uses a job-order costing system that applies manufacturing overhead cost to jobs on the basis of clirect laborhours. its predetermined overhead rate was based on a cost formula that estimated $351,500 of manufacturing overhead for an estimated allocation base of 950 direct labor-hours. The following transactions took place during the year: a. Raw materials purchased on account, $215,000. b. Raw materials used in production (ail direct materials), $200,000. c. Utility bills incurred on account, $62,000 (85\% related to factory operations, and the remainder related to selling and administrative activities). d. Accrued salary and wage costs: e. Maintenanice costs incurred on account in the factory, $57,000 f. Advertising costs incurred on account, $139,000. 9. Depreciation was recorded for the year, $87,000 (80\%s reloted to factory equipment, and the remainder related to selling and administrattve equipment). h. Rental cost incurred on account, $112,000 ( 855% related to factory facilities, ond the remainder related to selling and administrative focilities). 1. Manufacturing overhead cost was applied to jobs, 5 ? 1. Cost of goods manufactured for the year, $800,000 k. Sales for the year fall on account) totaled $1350,000. These goods cost $830,000 according to their job cost sheets The bolancos in the inventory occounts at the begirining of the year wore: Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods sold. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) Prepare a schedule of cost of goods manufactured. Journal entry worksheet Record the entry to close any balance in the manufacturing overhead account to cost of goods sold. Note: Enter debits before credits