recent year, the following estimates were made as a basis for computing the predetermined overhead rate for the year Baggins Company uses a job-order costing system and applies manufacturing overhead cost n the basis of the cost of materials used in production. At the beginning of the most Manufacturing overhead cost: $200,000 Direct materials cost: $160,000 The following transactions took place during the year (all purchases and services were acquired on account): a.) Raw materials purchased: $86,000 b.) Raw materials requisitioned for use in production (all direct materials) 598,000 c.) Utility costs incurred in the factory: $15,000. d.) Salaries and wages incurred as follows: Direct labour: $175,000 $70,000 Indirect labour: Selling and administrative salaries: $125,000 e.) Maintenance costs incurred in the factory: $15,000. f.) Advertising costs incurred: $89,000 g) Depreciation recorded for the year: $80,000, of which 80% relates to factory assets and the remainder relates to selling and administrative assets. h) Rental cost incurred on buildings: $70,000 (75% of the space is occupied by the factory, and 25% is occupied by sales and administration). i.) Miscellaneous selling and administrative costs incurred: $11,000. j.) Manufacturing overhead cost was applied to jobs as per company policy k.) Cost of goods manufactured for the year: $500,000. 1) Sales for the year (all on account): $1,000,000. These goods cost $600,000to manufacture repare journal entries to record the information above. Mark your entries by the letters a hrough I. (15 marks) Required