D Question 1 15 pts Alam Company is a manufacturing firm that uses job-order costing. At the beginning of the year, the company's inventory balances were as follows: Raw materials. Work in process Finished goods S24,000 S73,000 $27.000 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 45,000 machine-hours and incur $180,000 in manufacturing overhead cost. The following transactions were recorded for the year a. Raw materials were purchased, 5416,000. b. Raw materials were requisitioned for use in production, $420,000 ($380,000 direct and $40,000 indirect). c. The following employee costs were incurred: direct labor, $414,000; indirect labor, $60,000; and administrative salaries, $212,000 d. Selling costs, $141,000. e. Factory utility costs, $20,000 1. Depreciation for the year was $81,000 of which $73,000 is related to factory operations and $8,000 is related to selling. general, and administrative activities. g. Manufacturing overhead was applied to jobs. The actual level of activity for the year was 48,000 machine-hours. h. The cost of goods manufactured for the year was $1,004,000 1. The balance in the Manufacturing Overhead account was closed out to Cost of Goods Sold. Required: Prepare the appropriate journal entry for each of the items above (a through j.). You can assume that all transactions with employees, customers, and suppliers were conducted in cash. BIA-A- IEEE 2 X X ! - VTT: 12pt Paragraph