h. Rental cost incurred on account, $114,000 (75\% related to factory facilities, and the remainder related to selling and administrativ facilities). i. Manufacturing overhead cost was applied to jobs, \$ ? j. Cost of goods manufactured for the year, $820,000. k. Sales for the year (all on account) totaled $1,450,000. These goods cost $850,000 according to their job cost sheets. The balances in the inventory accounts at the beginning of the year were: Required: 1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) 3. Prepare a schedule of cost of goods manufactured. 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement for the year. h. Rental cost incurred on account, $114,000 (75\% related to factory facilities, and the remainder related to selling and administrativ facilities). i. Manufacturing overhead cost was applied to jobs, \$ ? j. Cost of goods manufactured for the year, $820,000. k. Sales for the year (all on account) totaled $1,450,000. These goods cost $850,000 according to their job cost sheets. The balances in the inventory accounts at the beginning of the year were: Required: 1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) 3. Prepare a schedule of cost of goods manufactured. 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement for the year. h. Rental cost incurred on account, $114,000 (75\% related to factory facilities, and the remainder related to selling and administrativ facilities). i. Manufacturing overhead cost was applied to jobs, \$ ? j. Cost of goods manufactured for the year, $820,000. k. Sales for the year (all on account) totaled $1,450,000. These goods cost $850,000 according to their job cost sheets. The balances in the inventory accounts at the beginning of the year were: Required: 1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) 3. Prepare a schedule of cost of goods manufactured. 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement for the year. h. Rental cost incurred on account, $114,000 (75\% related to factory facilities, and the remainder related to selling and administrativ facilities). i. Manufacturing overhead cost was applied to jobs, \$ ? j. Cost of goods manufactured for the year, $820,000. k. Sales for the year (all on account) totaled $1,450,000. These goods cost $850,000 according to their job cost sheets. The balances in the inventory accounts at the beginning of the year were: Required: 1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) 3. Prepare a schedule of cost of goods manufactured. 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement for the year