Journalize the following transactions and events that took place at Earthly Productions Corp. Determine the amount of manufacturing overhead cost applied to production for the year. I. Purchased $320,000 of raw materials J. Production requisitioned $88,000 of raw materials of which $5,000 was indirect materials. K. Paid salaries: $150,000 to workers manning the machines and $70,000 to supervisors. L. Applied overhead to production costs, using an activity-based costing system: 3. At the beginning of the year the company made the following estimates of cost and activity for its five activity cost pools: Activity Cost Pool Activity Measure Estimated Overhead Cost Expected Activity Production orders Number of orders $ 62,000 3,100 orders Board etching Number of boards 315,000 1,800 boards Parts management Number of part types 190,000 380 part types Labor related Direct labor-hours 210,000 21,000 direct labor-hours General factory Machine-hours 304,000 76,000 machine-hours 4. During the year, actual activity was recorded as shown on the right : M. Incurred an additional $950,000 of actual overhead costs. N. Completed 90% of the job. O. Sold 85% of the finished product at a 20% profit. P. Closed out the Factory Overhead accounts, assuming the misapplied balance was considered (a) immaterial, (b) material. Activity Cost Pool Actual Activity Production orders 3,000 orders Board etching 2,000 boards Parts management 400 part types Labor related 20,000 direct labor-hours General factory 75,000 machine-hours