Please Help Me!

Gold Nest Company of Guandang, China, is a family-owned enterprise that makes birdcages for the South China market. The company Sells its birdcages through an externe network of street vendors who receive commissions on their sales The corrpany 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 $75,000 of manufacturing overhead for an estimated activity level of $50.000 Cirect labor dollars. At the beginning of the year, the inventory balances were as folows Raw materials Work in proces Finished goods $11,000 $4,900 During the year, the following transactions were completed: a. Raw materials purchased on account, $ 166.000 b. Raw materials used in production $147,000 materials costing indirect). c. Costs for employee services were incurred as follows were charged directly to jobs, the remaining materials were aso,000 $146.200 $ 24,000 45,000 d. Rent for the year was $18,000 ($13,500 of this amount related to factory operations, and the remainder related to selling and administrative activities] e. Utility costs incurred in the factory, $15.000 f. Advertising costs incurred, $10.000 g. 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 seling and administrative activities h. Record the manufacturing overhead cost applied to jobs. Goods that had cost $229,000 to manufacture according to their job cost sheets were completed Sales for the year (all paid in cash totaled $501,000. The total cost to manufacture these goods according to their job cost sheets was $219.000 Required: 1. Prepare journal entries to record the transactions for the year 2. Prepare Taccounts for each inventary account Manufacturing Overhead, and Cost of Goods Sold. Post relevant clata from your journal entries to these T-accounts (don't forget to enter the beginning balances in your inventory accounts A Marvinnorward in the ? 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 Sald. Post relevant data from your Jumal entries to these T-accounts (don't forget to enter the beginning balances in your inventory accounts SA Is Manufacturing Overhead underapplied or overapplied for the year? 3B. Prepare a joumal 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 1 Reg 2 Reg 3A Req 3B Prepare joumal 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 clations) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 Raw materials purchased on account, $166,000. Note: Enter debits before credits. Transaction General Journal Debit Credit 166.000 Raw materials Cash Record entry Clear entry View general journal