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 that 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 $373.700 of manufacturing overhead for an estimated allocation base of 1.010 direct labor-hours. The following transactions took place during the year: 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 and administrative activities). d. Accrued salary and wage costs: Direct labor (1,085 hours) Indirect labor Selling and administrative salaries $285,280 $ 181,880 $ 165,000 e. Maintenance costs incurred on account in the factory. $65,000 f. Advertising costs incurred on account. $147.000. g. Depreciation was recorded for the year. $83.000 (80% related to factory equipment, and the remainder related to selling and administrative equipment). h. Rental cost incurred on account. $108.000 (85% related to factory facilities, and the remainder related to selling and administrative facilities). i. Manufacturing overhead cost was applied to jobs. $_? 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: Raw Materials Work in Process Finished Goods $ 41,880 $ 32,880 $ 71,080 Journal entry worksheet 1 2 3 4 5 6 7 8 12 > The raw materials were purchased for use in production, $255,000 on account Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal Reg Req2 >