d. Rent for the year was

$18,700

(

$13,600

of this amount related to factory operations, and the remainder related to selling and administrative activities).\ e. Utility costs incurred in the factory,

$19,000

.\ f. Advertising costs incurred,

$12,000

.\ g. Depreciation recorded on equipment,

$21,000

. (

$16,000

of this amount related to equipment used in factory operations; the remaining

$5,000

related to equipment used in selling and administrative activities.)\ h. Manufacturing overhead cost was applied to jobs, $?\ i. Goods that had cost

$228,000

to manufacture according to their job cost sheets were completed.\ j. Sales for the year (all paid in cash) totaled

$519,000

. The total cost to manufacture these goods according to their job cost sheets was

$217,000

.\ Required:\ Prepare journal entries to record the transactions for the year.\ Prepare T-accounts for each inventory account, Manufacturing Overhead, and Cost of Goods Sold. Post relevant data from your journal entries to these T-accounts (don't forget to enter the beginning balances in your inventory accounts).\ 3A. Is Manufacturing Overhead underapplied or overapplied for the year?\ 3B. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold.\ Prepare an income statement for the year. All of the information needed for the income statement is available in the journal

d. Rent for the year was $18,700 ( $13,600 of this amount related to factory operations, and the remainder related to selling and administrative activities). e. Utility costs incurred in the factory, $19,000. f. Advertising costs incurred, $12,000. g. Depreciation recorded on equipment, $21,000. ( $16,000 of this amount related to equipment used in factory operations; the remaining $5,000 related to equipment used in selling and administrative activities.) h. Manufacturing overhead cost was applied to jobs, i. Goods that had cost $228,000 to manufacture according to their job cost sheets were completed. j. Sales for the year (all paid in cash) totaled $519,000. The total cost to manufacture these goods according to their job cost sheets was $217,000. Required: 1. Prepare journal entries to record the transactions for the year. 2. Prepare T-accounts for each inventory account, Manufacturing Overhead, and Cost of Goods Sold. Post relevant data from your journal entries to these T-accounts (don't forget to enter the beginning balances in your inventory accounts). 3A. Is Manufacturing Overhead underapplied or overapplied for the year? 3B. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4. Prepare an income statement for the year. All of the information needed for the income statement is available in the journal d. Rent for the year was $18,700 ( $13,600 of this amount related to factory operations, and the remainder related to selling and administrative activities). e. Utility costs incurred in the factory, $19,000. f. Advertising costs incurred, $12,000. g. Depreciation recorded on equipment, $21,000. ( $16,000 of this amount related to equipment used in factory operations; the remaining $5,000 related to equipment used in selling and administrative activities.) h. Manufacturing overhead cost was applied to jobs, i. Goods that had cost $228,000 to manufacture according to their job cost sheets were completed. j. Sales for the year (all paid in cash) totaled $519,000. The total cost to manufacture these goods according to their job cost sheets was $217,000. Required: 1. Prepare journal entries to record the transactions for the year. 2. Prepare T-accounts for each inventory account, Manufacturing Overhead, and Cost of Goods Sold. Post relevant data from your journal entries to these T-accounts (don't forget to enter the beginning balances in your inventory accounts). 3A. Is Manufacturing Overhead underapplied or overapplied for the year? 3B. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4. Prepare an income statement for the year. All of the information needed for the income statement is available in the journal