please complete all parts as this is single question. Thankyou in advance

Goid Nest Company of Guandong. China, is a family-owned enterpise that makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions on their salos. The company uses a job-order costing systein in which overhead is applied to jobs on the basis of direct labor cost: its predetermined overhead rate is based on a cost formula that estimated $85,500 of manulacturing overhead for an estimated activity level of $45,000 direct labor dollars. At the beginning of the year, the inventory balances were as follows: During the yeat, the following transactions were completed: a. Raw materials purchased on account $161,000. b. Raw materiats used in production, $144,000 (rmaterials costing $126,000 were charged directly to jobs, the remaining moterials were indirect). c. Costs for employee services were inculred as follows: d. Rent for the year was $18,900; $13,200 of this amount rehated to factory operations, and the remainder related to selling and administrative activities) e. Utity costs incurred in the factory, $17,000 A Advertising costs incurred, $11,000. 9. Depreciation recorded on equipment, $23,000. (\$16,000 of this amount related to equpment used in factory operations, the remaining $7,000 related to equipment used in seling and administrative activities) h. Manufacturing overhead cost was applied to jobs, $ ? 1 Goods that had cost $228.000 to manufacture according to their job cost sheets were conpleted. i Sales for the year (all paid in cash) totaled $504000. The total cost to menufacture these goods according to their job cost sheets was $215,000 Required: 1. Frepare yournal entries to record the tramactions for the year. 2. Prepare T accounts for each imentory account, Manufacturing Overhead, and Cost of Goods Sold. Post relevant data from your joumal enties to these T-accounts (don't forget to enter the beginaing balances in your inventory accounts) 3A Is Manulactuing Overhead underapplied or overapplied for the yeat? 3A. Prepare a joumal entry to dose any balance in the Monutacturing Overiead eccount to Cost of Goods Sold. 1 Prepare an income statement for the year. All of the information needed for the income stakentent s available in the joumal entries and Taccounts vou have prepated. Gold Nest Company of Guandong. China, is a family-owned enterprise that makes birdcages for the South China market The company sells its birdcages through an extensive network of street vendors who receive commissions on their sales. The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost its predetermined overhead rate is based on a cost formula that estimated $85,500 of manufacturing overhead for an estimated activity level of $45,000 direct labor dollars. At the beginning of the year, the inventory balances were as follows: During the year, the following transactions were completed: a. Raw materials purchased on account, $161,000. b. Raw materials used in production, $144,000 (materials costing $126,000 were charged directly to jobs, the remaining materials were indirect). c. Costs for employee services were incurred as follows: d. Rent for the year was $18,900 ( $13,200 of this amount related to factory operations, and the remainder related to selling and administrative activities). e. Utility costs incurred in the factory, $17,000. f. Advertising costs incurred, $11,000. 9. Depreciation recorded on equipment, $23,000. (\$16,000 of this amount related to equipment used in foctory operations; the remaining $7,000 related to equipment used in selling and administrative activities.) h. Manufacturing overhead cost was applied to jobs, $ ? 1. Goods that had cost $228,000 to manufacture according to their job cost sheets were completed. 1. Sales for the year (all paid in cash) totaled $504,000. The total cost to manufacture these goods according to their job cost sheets d. Rent for the year was $18,900 ( $13,200 of this amount related to factory operations, and the remainder related to selling and administrative activities). e. Utility costs incurred in the factory, $17,000. t. Advertising costs incurred. $11,000. 9. Depreciation recorded on equipment, $23,000. ($16,000 of this amount related to equipment used in factory operations; the remaining $7,000 related to equipment used in selling and administrative activities.) h. Manufacturing overhead cost was applied to jobs, $ ? j. Sales for the year (all paid in cash) totaled $504,000. The total cost to manufacture these goods according to their job cost sheets was $215,000. Required: 1. Prepare journal entries to record the transactions for the year. 2. Prepare T-accounts for each inventory account, Manufacturing Overhead, and Cost of Goods Sold. Post relevant data from your journal entries to these T-accounts (don't forget to enter the beginning balances in your inventory accounts). 3A. Is Manufacturing Overhead underapplied or overapplied for the year? 3B. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4. Prepare an income statement for the year. All of the information needed for the income statement is avalable in the journal entries and Traccounts you have prepared