Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) Problem 3-15 (Static) Journal Entries; T-Accounts; Financial Statements [LO3-1, LO3-2, LO3-3, LO3-4] Froya Fabrikker AS of Bergen, Norway, manufactures speciaity heavy equipment for use in North Sea oil fields. The company uses a job-order costing system that applies manufacturing overhead cost to jobs based on direct labor-hours, its predetermined overhead rate was based on a cost formula that estimated $360,000 of manufacturing ovethead for an estimated allocation base of 900 direct labor-hours. The following transactions occurred dufing the year: a. Raw materials purchased on account, $200,000 b. Raw materials used in production (all direct materials), $185,000. c. Utility bills incurred on account, $70,000190% related to factory operations, and the remainder related to selling and administrative activities) d. Accrued salory and wage costs: c. Meintenance costs incurred on account in the factory, $54,000 t. Advertising costs incurred on account, $136,000. 9. Depreciation recorded for the year, $95.000 (BO\% related to factory equipment, and the remainder related to selling and administrative equipment. h. Rental cost incurred on account, $120,000(85% related to foctory focilities, ond the remainder related to selling and administrative focilities) 1. Manufacturing overhead cost applied to jobs, \$? 1. Cost of goods manufactured, $770,000 k. Soles (ail on account) totaled \$1,200,000. These goods cost $800,000 according to their job cost sheets. The beginning bolances in the inventory accounts were: 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) \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Finished Goods } \\ \hline Beginning Balance & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular}