Froya Fabrikker A/S of Bergen, Norway, is a small company that manufactures specialty heavy equipment for use in North Sea oil fields. The company uses a job-order costing system and applies manufacturing overhead cost to jobs on the basis of direct labor- hours. Its predetermined overhead rate was based on a cost formula that estimated $370,500 of manufacturing overhead for an estimated allocation base of 950 direct labor-hours. The following transactions took place during the year (all purchases and services were acquired on account): a. Raw materials purchased for use in production, $270,000. b. Raw materials requisitioned for use in production (all direct materials), $255,000. c. Utility bills were incurred, $73,000 (90% related to factory operations, and the remainder related to selling and administrative activities). d. Salary and wage costs were incurred: Direct labor (1,030 hours) $300,000 Indirect labor 104,000 $ Selling and administrative salaries 180,000 $ e. Maintenance costs were incurred in the factory, $68,000. f. Advertising costs were incurred, $150,000. g. Depreciation was recorded for the year, $86,000 (75% related to factory equipment, and the remainder related to selling and administrative equipment). h. Rental cost incurred on buildings, $111,000 (80% related to factory operations, and the remainder related to selling and administrative facilities). i. Manufacturing overhead cost was applied to jobs, $ ?. i. Cost of goods manufactured for the year, $910,000. j. Cost of goods manufactured for the year, $910,000. k. Sales for the year (all on account) totaled $1,900,000. These goods cost $940,000 according to their job cost sheets. The balances in the inventory accounts at the beginning of the year were: 44,000 Raw materials $ Work in process $35,000 .74,000 Finished Goods Required: 1.Prepare journal entries to record the above data. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)