One question, multiple parts

Froya Fabrikker A/S of Bergen, Norway, is a small company that manufactures specialty heavy equipment for use in North Sea oil fields. The company uses a job-order costing system that applies manufacturing overhead cost to jobs on the basis of direct labor-hours. Its predetermined overhead rate was based on a cost formula that estimated $336,000 of manufacturing overhead for an estimated allocation base of 1,050 direct labor-hours. The following transactions took place during the year. a. Raw materials purchased on account, $225,000. b. Raw materials used in production (all direct materials). $210,000. c. Utility bills incurred on account, $58,000 (95% related to factory operations, and the remainder related to selling and administrative activities). d. Accrued salary and wage costs: Direct labor (1,125 hours) Indirect labor Selling and administrative salaries $ 255,000 $ 95,000 $ 135,000 Direct labor (1,125 hours) Indirect labor Selling and administrative salaries $ 255,000 $ 95,000 $ 135,000 e. Maintenance costs incurred on account in the factory, $59,000 f. Advertising costs incurred on account, $141,000. g. Depreciation was recorded for the year, $89,000 (70% related to factory equipment, and the remainder related to selling and administrative equipment). h. Rental cost incurred on account, $114,000 (75% related to factory facilities, and the remainder related to selling and administrative facilities) 1. Manufacturing overhead cost was applied to jobs, $_2. 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: The balances in the inventory accounts at the beginning of the year were: Raw Materials Work in Process Finished Goods $ 35,000 $ 26,000 $ 65,000 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 48. Prepare a schedule of cost of goods sold. 5. Prepare an income statement for the year. es Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Req 4A Req 4B Reg 5 Prepare journal entries to record the preceding transactions. (If no entry is required for a transaction/event required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 12 > The raw materials were purchased for use in production, $225,000 on account. saros Accounts receivabio Bal Beg. Bal . Bal End. Bal. Raw Materials Cost of Goods Sold 3. Bal. Beg. Bal. End. Bal. d. Bal. Work in Process Manufacturing Overhead eg. Bal. Beg Bal md. Bal. End. Bal. Finished Goods Advertising Expense -eg. Bal. Beg. Bal End. Bal. End. Bal. Accumulated Depreciation Utilities Expense Beg, Bal. Beg Bal. End. Bal. End. Bal. Accounts Payablo Salarios Expenso Beg. Bal. Beg. Bal. End. Bal End. Bal. Depreciation Expenso Salaries & Wages Payablo Beg. Bal Beg. Bal End. Bal End. Bal. Rent Expense Beg. Bal End. Bal. Complete this question by entering your answers in the tabs below. Req1 Reg 2 Req3 Req 4A Req 4B Req 5 Prepare a schedule of cost of goods manufactured. Froya Fabrikker A/S Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for 0 Cost of goods manufactured Reg 1 Reg 2 Reg 3 Reg 4A Req 4B Req 5 Prepare a journal entry to close any balance in the Manufacturing Overhead account to Costo transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead accoun 48. Prepare a schedule of cost of goods sold. 5. Prepare an income statement for the year. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Req 4A Req 4B Req 5 Prepare an income statement for the year. Froya Fabrikker A/S Income Statement For the Year Ended 0 Selling and administrative expenses: 0 $ 0