Mariya Company uses a job-order costing system and applies manufacturing overhead cost to jobs on the basis of the cost of direct materials used in production. Its predetermined overhead rate was based on a cost formula that estimated $280,000 of manufacturing overhead for an estimated allocation base of $175,000 direct material dollars The following transactions took place during the year (all purchases and services were acquired on account) a. Raw materials purchased, $162,000 b. Raw materials requisitioned for use in production (all direct materials), $158,000 c. Utility bills incurred in the factory, $41,000 d. Costs for salaries and wages were incurred as follows Direct labor Indirect labor Seling and administrative salaries $ 160,000 $257,000 $ 70,200 e. Maintenance costs incurred in the factory, $25,500 f. Advertising costs incurred, $145,000 g. Depreciation recorded for the year, $60,000 (70% relates to factory assets, and the remainder relates to selling and administrative assets). Rental cost incurred on buildings, $102,000 (80% of the space is occupied by the factory, and 20% is occupied by sales and administration). i. Miscellaneous selling and administrative costs incurred, $19,500 j. Manufacturing overhead cost was applied to jobs, $ 2. k. Cost of goods manufactured for the year, $630,000 l. Sales for the year (all on account) totaled $1,270,000. These goods cost $615,000 according to their job cost sheets The balances in the inventory accounts at the beginning of the year were as follows Raw materials Work in process Finished Goods $ 40,000 $41,000 $51,000