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help please Raffi Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of

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Raffi Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: Beginning BalanceEnding Balance Raw materials $ 14,000 $ 22,000 Work in process $ 27,000 $ 9,000 Finished Goods $ 62,000 $ 77,000 . The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 33,000 machine-hours and incur $231,000 in manufacturing overhead cost. The following transactions were recorded for the year: Raw materials were purchased, $315,000. Raw materials were requisitioned for use in production, $307,000 ($281,000 direct and $26,000 indirect). . The following employee costs were incurred: direct labor, $377,000; indirect labor, $96,000; and administrative salaries, $172,000.bail . Selling costs, $147,000. . Factory utility costs, $10,000. . Depreciation for the year was $127,000 of which $120,000 is related to factory operations and $7,000 is related to selling, general, and administrative activities. . Manufacturing overhead was applied to jobs. The actual level of activity for the year was 34,000 machine-hours. . Sales for the year totaled $1,253,000. Required: a. PREPARE T ACCOUNTS FOR THE ABOVE ACCOUNTS AND OTHERS AS REQUIRED b. PREPARE JOURNAL ENTRIES FOR THE ABOVE TRANSACTIONS. c. POST THE TRANSACTIONS AND COMPUTE THE ACCOUNT BALANCES. d. PREPARE AN INCOME STATEMENT FOR THE YEAR. e. THE COMPANY CLOSES ANY UNDERAPPLIED OR OVERAPPLIED OVERHEAD TO COST OF GOODS SOLD

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