NorthworthCompany 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. At the beginning of the current year, the following estimates were made for the purpose of computing the predetermined overhead rate: manufacturing overhead cost, $248,000; and direct materials cost, $155,000. The following transactions took place during the year (all purchases and services were acquired on account): a. Raw materials purchased: $142,000 b. Raw materials requisitioned for use in production (all direct materials): $150,000 c. Utility bills incurred in the factory: $21,000 d. Cost for salaries and wages were incurred as follows: Direct labour $216,000 Indirect labour $90,000 Selling and administrative salaries $145,000 e. Maintenance costs incurred in the factory: $15,000 f. Advertising costs incurred: $130,000 g. Depreciation recorded for the year: $50,000 (90% relates to factory assets, and the remainder relates to selling and administrative assets.) h. Rental costs incurred on buildings: $90,000 (80% of the space is occupied by the factory, and 20% is occupied by sales and administration.) i. Miscellaneous selling and administrative costs incurred: $17,000 j. Manufacturing overhead cost applied to jobs: $______ k. Cost of goods manufactured for the year: $590,000 l. Sales for the year (all on account) totalled $1,000,000. These goods cost $600,000 according to the job sheets. The balances in the inventory accounts at the beginning of the year were as follows: Raw materials $18,000 Work in progress $24,000 Finished goods $35,000 Required a. Prepare journal entries to record the above data. (5X13=65 marks) b. Determine the ending balances in the inventory accounts and in the manufacturing overhead account using T-account. (4X5=20 marks) c. Prepare a schedule of cost of goods manufactured. (15 marks)