PROBLEM 3-9 Preparing Journal Entries; T-Accounts; Cost Flows [LO4 - CC8; LO6 - CC12; LO7 - CC14; LO8 - CC18] Almeda Products, Inc. uses a job-order costing system. The company's inventory balances on April 1, the start of its fiscal year, were as follows: Raw materials Work in process Finished goods $52,000 40,000 38,000 CHECK FIGURES (3) Underapplied by $11,000 (4) NI: $23,000 During the year, the following transactions were completed: a. Raw materials were purchased on account, $170,000. b. Raw materials were issued from the storeroom for use in production, $200,000 (80% direct and 20% indirect). c. Employee salaries and wages were accrued as follows: direct labour, $200,000; indirect labour, $82,000; selling and administrative salaries, $120,000. d. Utility costs were incurred in the factory, $75,000. e. Advertising costs were incurred, $90,000. f. Prepaid insurance expired during the year, $20,000 (70% related to factory operations, and 30% related to selling and administrative activities).