Gold Nest Company of Guandong China is a family-owned enterprise that makes birdcages for the South China market The company sells its birdcages through an extensive network of street vendors who receive commissions on their sales All of the company's transactions with customers, employees, and suppliers are conducted in cash, there is no credit. The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost Its predetermined overhead rate is based on a cost formula that estimated $60,000 of manufacturing overhead for an estimated activity level of $40,000 direct labor dollars At the beginning of the year the inventory balances were as follows: During the year, the following transactions were completed: Raw materials purchased for cash. $170,000 Raw materials requisitioned for use m production. $147,000 (materials costing $122,000 were charged directly to jobs; the remaining materials were indirect). Costs for employee services were incurred as follows: Rent for the year was $18, 500 ($13, 300 of this amount related to factory operations and the remainder related to selling and administrative activities) Utility costs incurred in the factory $13,000 Advertising costs incurred $12,000. Depreciation recorded on equipment $21,000 ($17,000 of this amount was on equipment used in factory operations, the remaining $4 000 was on equipment used in selling and administrative activities.) Manufacturing overhead cost was applied to jobs. $2 Goods that had cost $228,000 to manufacture according to their job cost sheets were completed. Sales for the year totaled $510,000 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 (If no entry is required for a transaction/event, select "No journal entity required in the first account field. Round your intermediate calculations to 2 decimal places.)