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 $21, 000 Work in process $12, 000 Finished goods $31, 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 32,000 machine-hours and incur $148,000 in manufacturing overhead cost. The following transactions were recorded for the year: a. Raw materials were purchased on account: $220,000. b. Raw materials were requisitioned for use in production: $200,000 {85% direct and 15% Indirect}. c. The following costs were incurred for employee services: Direct labour $163,000 Indirect labour $ 29,000 Sales cal-missions $ 39,000 Administrative salaries $ 34,000 D. . Heat, power. and water costs were incurred in the factory: $45,500. e. Prepaid insurance expired during the year: $15,000 [30% relates to factory operations, and 20% relates to selling and administrative activities}. f. Advertising costs were incurred. $55,000. g. Depreciation was recorded for the year: $66,000 (T596 relates to factory operations, and 25% relates to selling and administrative activities}. h. Manufacturing overhead cost was applied to production. The company recorded 42,000 machine-hours for the year. i. Goods that cost $503,000 to manufacture according to their job cost sheets were transferred to the nished goods warehouse. j. Sales for the year totalled $745,500 and were all on account. The total cost to manufacture these goods according to their iob oost sheets was $495000