F Raw G HE M $12.000 3 materials Work in 4 process 14,000 Finished 5 goods 18.000 6 7 During the year, the following transactions were completed: 8 a Raw materials were purchased on account 5135,000 9 b. Raw materials were issued from the storeroom for use in production 5175.000 (70% direct and remaining indirect 10 c Employee satanes and wages were accrued as follows direct labour $135.000 de bou 375 000 selling and administrative 5335.000 11 d Utility costs were incurred in the factory 585.000 12 e Advertising costs were incurred $120,000 13 Prepaid insurance expired during the year, St0.000 (759 related to factory operations and 25 related to telling and administrate g Depreciation was recorded. $140.000 (85% related to factory assets and 15 mlad to seling and administrate 15 h Manufacturing overhead was applied to jobs at the rate of 175% of direct labour cost 16 1 Goods that cost 5800,000 to manufacture according to their jobs cost shots were transferred to the fished goods warehouse 17 Sales for the year totaled 51.200.000 and were all on account. The total cost to mandate these goods according to the cont who was $20.000 18 Aequid 19 1 Prepare joumal entries to record the transactions for the year 20 2. Prepare T-accounts for raw materials, work in process finished goods manufacturing and cost of goods sold Pane opportuotywac 21 3. Is manufacturing overhead underapplied or over applied for the year. Preparaty to cloth balance le cost of goods sold Assignment Template Sheet