QUESTION 1 17 pots Save The Commonwealth Company uses a ob-order costing system and applies manufacturing overhead cost to jobs using a predetermined overhead rate based on the cost of production At the beginning of the year the following estimates were made a basis for computing the predetermined overhead rate mancturing word t materials cost $155 000 The following transactions took place during the year all purchases and services were acquired on account used in direct a Raw materials purchased on account. $96.000 b. Raw materials requisitioned for use in production (all direct materials) $88,000 c. Utility bills incurred in the factory, $17.000 d. Costs for salaries and wages incurred as follows: Direct labor $174.000 Indirect labor $70,000 Selling and administrative salaries $124.000 a v . Maintenance costs incurred in the factory $12000 Advertising costs incurred. 598.000 Depreciation recorded for the year $75.000 (75 percent relates to factory assets and remainder resten Required: DE Prepare journal entries to record the information given above Key your entries by letters allrought SONY