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 $26,000 $14, eee $32,000 The company applies overhead cost to jobs on the basis of machine-hours. For the current year, the company estimated that it would work 38,000 machine-hours and incur $153,900 in manufacturing overhead cost. The following transactions were recorded for the year a, Raw materials were purchased on account: $240,000 b. Raw materials were requisitioned for use in production: $210,000 (90% direct and 10% Indirect). c. The following costs were incurred for employee services: Direct labour Todirert lain $176,888 1 AAA 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 $26,000 $14, eee $32,000 The company applies overhead cost to jobs on the basis of machine-hours. For the current year, the company estimated that it would work 38,000 machine-hours and incur $153,900 in manufacturing overhead cost. The following transactions were recorded for the year a, Raw materials were purchased on account: $240,000 b. Raw materials were requisitioned for use in production: $210,000 (90% direct and 10% Indirect). c. The following costs were incurred for employee services: Direct labour Todirert lain $176,888 1 AAA