Ravsten Company uses a job order costing system On January 1, the beginning of the current year, the companys inventory balances were as follows Raw materials $ 19,500 Work in process $ 11,400 Finished goods $ 30,700 The company applies overhead cost to jobs on the basis of machine hours For the current year, the company estimated that it would work 36,700 machine hours and incur $168,820 in manufacturing overhead cost The following transactions were recorded for the year Raw materials were purchased on account $214,000 Raw materials were requisitioned for use in production $197,000 (80 direct and 20 indirect) The following costs were incurred for employee services Direct labour $ 165,600 Indirect labour $ 28,400 Sales commissions $ 38,100 Administrative salaries $ 82,800 Heat, power, and water costs were incurred in the factory $45,150 Prepaid insurance expired during the year $13,500 (85 relates to factory operations, and 15 relates to selling and administrative activities) Advertising costs were incurred, $53,500 Depreciation was recorded for the year $64,200 (90 relates to factory operations, and 10 relates to selling and administrative activities) Manufacturing overhead cost was applied to production The company recorded 41,400 machine hours for the year Goods that cost $510,900 to manufacture according to their job cost sheets were transferred to the finished goods warehouse Sales for the year totalled $732,500 and were all on account The total cost to manufacture these goods according to their job cost sheets was $504,500 Required 1 Prepare journal entries to record the transactions given above (Do not round intermediate calculations If no entry is required for a transaction event, select No journal entry required in the first account field )

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Ravsten Company uses a job-order costing system. On January 1, the beginning of the current year, the companys inventory balances were as follows: Raw materials

Ravsten Company uses a job-order costing system. On January 1, the beginning of the current year, the companys inventory balances were as follows:


Raw materials	$	19,500
Work in process	$	11,400
Finished goods	$	30,700

The company applies overhead cost to jobs on the basis of machine-hours. For the current year, the company estimated that it would work 36,700 machine-hours and incur $168,820 in manufacturing overhead cost. The following transactions were recorded for the year:

Raw materials were purchased on account: $214,000.
Raw materials were requisitioned for use in production: $197,000 (80% direct and 20% indirect).
The following costs were incurred for employee services:


Direct labour	$	165,600
Indirect labour	$	28,400
Sales commissions	$	38,100
Administrative salaries	$	82,800

Heat, power, and water costs were incurred in the factory: $45,150.
Prepaid insurance expired during the year: $13,500 (85% relates to factory operations, and 15% relates to selling and administrative activities).
Advertising costs were incurred, $53,500.
Depreciation was recorded for the year: $64,200 (90% relates to factory operations, and 10% relates to selling and administrative activities).
Manufacturing overhead cost was applied to production. The company recorded 41,400 machine-hours for the year.
Goods that cost $510,900 to manufacture according to their job cost sheets were transferred to the finished goods warehouse.
Sales for the year totalled $732,500 and were all on account. The total cost to manufacture these goods according to their job cost sheets was $504,500.

Required:

1. Prepare journal entries to record the transactions given above. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)