fields. The company uses a job-order costing system that applies manufacturing overhead cost to jobs on the basis of direct labor- d on a cost formula that estimated estimated allocation base of 1,010 direct labor-hours. The following transactions took place during the year 5 points a. Raw materials purchased on account, $255,000. b. Raw materials used in production (all direct materials), $240,000. c Utility bills incurred on account, $70,000 (95% related to factory operations, and the remainder related to selling d. Accrued salary and wage costs: s 285,000 Indirect labor Se11ing and administrative salaries 101,000 s 165,000 e. Maintenance costs incurred on account in the factory, $65,000 f. Adivertising costs incurred on account, $147,000. g. Depreciation was recorded for the year, $83,000 (B0% related to factory equpment and the remainder related to seling ind admi h. Rentalcost incurred on account, $108,0 equipment). 85% related to factory facit es, and the emai der re ated to sell and a is at e L Monufacturing overhead cost was applied to jobs, $ 2 J. Cost of goods manufactured for the year, $880,000. k. Sales for the year (all on account) totaled $1,750,000. These goods cost $910,000 according to their job cost sheets. The balances in the inventory accounts at the beginning of the year were: