please do in boxes so i can easily understand.

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 $76,000 of manufacturing overhead for an estimated activity level of $40,000 direct labor dollars. At the beginning of the year, the inventory balances were as follows: Raw materials Work in process Finished goods $10,500 $ 4,900 $ 8,800 During the year, the following transactions were completed: a. Raw materials purchased on account, $169,000. b. Raw materials used in production, $149,000 (materials costing $121,000 were charged directly to jobs; the remaining materials were Indirect). c. Costs for employee services were incurred as follows: Direct labor Indirect labor Sales commissions Administrative salaries $ 164,000 $ 222,400 $ 20,000 $ 47,000 d. Rent for the year was $18.800 ($13,800 of this amount related to factory operations, and the remainder related to selling and administrative activities). e. Utility costs incurred in the factory, $16,000. 1. Advertising costs incurred. $13,000. g. Depreciation recorded on equipment, $22,000. ($17,000 of this amount related to equipment used in factory operations, the remaining $5,000 related to equipment used in selling and administrative activities.) h. Manufacturing overhead cost was applied to jobs, $_2 1. Goods that had cost $229,000 to manufacture according to their job cost sheets were completed J. Sales for the year (all pald in cash) totaled $502,000. The total cost to manufacture these goods according to their job cost sheets was $217,000. dit from your During the year, the following transactions were completed: a Raw materials purchased on account, $169,000. b. Raw materials used in production, $149,000 (materials costing $121000 were charged directly to jobs, the remaining materials were indirect). c. Costs for employee services were incurred as follows: Direct labor Indirect labor Sales commissions Administrative salaries $164.000 5 222,400 $ 20.000 $ 47,000 d. Rent for the year was $18,800 ($13,800 of this amount related to factory operations, and the remainder related to selling and administrative activities) e. Utility costs incurred in the factory, $16.000 1. Advertising costs incurred, $13,000 g. Depreciation recorded on equipment. $22,000. ($17,000 of this amount related to equipment used in factory operations, the remaining $5,000 related to equipment used in selling and administrative activities) h. Manufacturing overhead cost was applied to jobs, $_2 1. Goods that had cost $229,000 to manufacture according to their job cost sheets were completed. J. Sales for the year (all paid in cash) totaled $502,000. The total cost to manufacture these goods according to their job cost sheets was $217,000 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 available in the journal entries and T-accounts you have prepared Complete this question by entering your answers in the tabs below. Reg 3 Reg 4 Reg 1 Reg 2 Reg JA Prepare journal entries to record the transactions for the year. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Do not round intermediate calculations) View transaction list Latement for the year. All of the information needed for the income statement is available in the journal entries and T-accounts you have prepared. Complete this question by entering your answers in the tabs below. Req 1 Reg 2 Req 3A Req 3B Reg 4 Prepare journal entries to record the transactions for the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet 2 3 4 5 11 6 7 8 ... Raw materials used in production, $149,000 (materials costing $121,000 were charged directly to jobs; the remaining materials were indirect) Note: Enter debits before credits. Debit Credit Transaction General Journal b. Work in process Manufacturing overhead Raw materials View general Journal Clear entry Record entry Reg 1 Reg 2 Req Reg 38 Req4 Prepare journal entries to record the transactions for the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet Reg 1 Prepare journal entries to record the transactions for the year. (If no entry is required for a transaction/event, select "No journal ent required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet Reg 1 Complete this question by entering your answers in the tabs below. Req 1 Req 2 Reg 3A Reg 38 Reg 4 Prepare journal entries to record the transactions for the year. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet > 11 4 5 7 3 6 8. Rog1 Complete this question by entering your answers in the tabs below. 15:35 Reg 1 Req2 Reg Reg 38 Req 4 Prepare journal entries to record the transactions for the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet Advertising cost incurred, $13,000. Note: Enter debits before credits Debit Credit General Journal Transaction 1 View general Journal Clear entry Record entry Reg 2 > Rog1 View transaction list Journal entry worksheet Depreciation recorded on equipment, $22,000. ($ 17,000 of this amount related to equipment used in factory operations; the remaining $ 5,000 related to equipment used in selling and administrative activities.) Note: Enter debits before credits. Debit Credit Transaction General Journal g View general Journal Clear entry Record entry Req 2 > Regi Prepare journal entries to record the transactions for the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) View transaction fist Journal entry worksheet Red Journal entry worksheet Goods that had cost $229,000 to manufacture according to their job cost sheets were completed. Note: Enter debits before credits. Transaction General Journal Debit Credit i. View general Journal Clear entry Record entry Req 2 > Req1 Prepare your required in the first account field. Do not round Intermediate calculations.) View transaction list Journal entry worksheet a Real View transaction list Journal entry worksheet 11 6 7 8 9 10 5 Reg Reg 4 Reg 3B Reg 3A Reg 1 Reg 2 Prepare journal entries to record the transactions for the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) View transaction list 11 7 8 Journal entry worksheet 3 6 5 4 Raw materials purchased on account, $169,000. Debit Credit Note: Enter debits before credits 169.000 169,000 Transaction General Journal a Raw materials Accounts payable View general Journal Clear entry Record entry Reg 2 > Ragi Next 4 of 4 ! Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req 3A Reg 38 Reg 4 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). (Do not round intermediate calculations.) Work in Process Raw Materials Beg Bal Beg Bal End, Bal End. Bal Manufacturing Overhead Finished Goods Beg Bal Beg. Bal. End. Bal End. Bal Cost of Goods Sold Beg Bal End. Bal Req3A > Reg 1 Reg 2 Req Reg 38 Reg 4 Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet