please solve all the required transaction
Froya Fabrikker A/S of Bergen, Norway, is a small company that manufactures specialty heavy equipment for use in North Sea oil flelds. 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 $399,000 of manufacturing overhead for an estimated allocation base of 1050 direct labor hours. The following transactions took place during the year: a. Raw materials purchased on account, $280,000. b. Raw materials used in production (all direct materials). $265,000. c. Utility bills incurred on account, $75.000 (80% related to factory operations, and the remainder related to selling and administrative activities) d. Accrued salary and wage costs: Direct labor (1.100 hours) Indirect labor Selling and administrative salaries $ 310,000 $106.000 $190.000 e. Maintenance costs incurred on account in the factory, $70,000 Advertising costs incurred on account, $152,000. g. Depreciation was recorded for the year. $88,000 (85% related to factory equipment, and the remainder related to selling and administrative equipment). h. Rental cost incurred on account, $113,000 (90% related to factory facilities, and the remainder related to selling and administrative facilities) I. Manufacturing overhead cost was applied to jobs, $_? J. Cost of goods manufactured for the year, $930,000 k Sales for the year (all on account) totaled $2,000,000. These goods cost $900,000 according to their job cost sheets. The balances in the inventory accounts at the beginning of the year were: Raw Materiala Work in process Pinished Goods $ 46,000 $ 37,000 $ 76,000 Required Prepare ours e s to record the preceding transactions 2. Post your enties to accoun t o r being inventory balances above) 3. Prepare a schedule of cost of O c tured 4. Prepare a journey to close any biance in the Maracturing Overed account to cost of Goods Sold 4. Prepare a schedule of cost of os sod 5. Prepare an income rent for the year Complete this question by entering your answers in the tabs below. Reg1 Reg 2 Req3 Re4 Reg 4B Reg 5 Prepare joumal entries to record the preceding transactions. If no entry is required for a transaction event, select "No journal entry required in the first account field) Verw transaction lit Journal entry worksheet
