Ravsten Company uses a job-order costing system. On January 1, the beginning of the current year, the company's inventory balances were as follows: Raw materials Work in process Finished goods $16,000 $10,000 $ 30,000 The company applies overhead cost to jobs on the basis of machine-hours. For the current year, the company estimated that it would work 36,000 machine-hours and incur $153,000 in manufacturing overhead cost. The following transactions were recorded for the year: a. Raw materials were purchased on account: $200,000 b. Raw materials were requisitioned for use in production: $190,000 (80% direct and 20% indirect). c. The following costs were incurred for employee services Direct labour Indirect labour Sales commissions Administrative salaries $160,000 $27,000 $ 36,000 $80,000