(Req1 & Req2 --> done) Can you please continue Req3 (the red boxes) and Req 4A, Req 4B, Req5

Thank you!

Froya Fabrikker A/S of Bergen, Norway, is a small company that manufactures specialty heavy equipment for use in North Sea oil fields. The company uses a job-order costing system that applies manufacturing overhead cost to jobs on the basis of direct labor- hours. Its predetermined overhead rate was based on a cost formula that estimated $380,000 of manufacturing overhead for an estimated allocation base of 1,000 direct labor-hours. The following transactions took place during the year: a. Raw materials purchased on account, $220,000. b. Raw materials used in production (all direct materials), $205,000. c. Utility bills incurred on account, $63,000 (90% related to factory operations, and the remainder related to selling and administrative activities) d. Accrued salary and wage costs: Direct labor (1,075 hours) Indirect labor Selling and administrative salaries $ 250,000 $ 94,000 $ 130,000 e. Maintenance costs incurred on account in the factory, $58,000 f. Advertising costs incurred on account, $140,000. g. Depreciation was recorded for the year, $88,000 (85% related to factory equipment, and the remainder related to selling and administrative equipment). h. Rental cost incurred on account, $113,000 (90% related to factory facilities, and the remainder related to selling and administrative facilities). i. Manufacturing overhead cost was applied to jobs, $_?. j. Cost of goods manufactured for the year, $810,000. k. Sales for the year (all on account) totaled $1,400,000. These goods cost $840,000 according to their job cost sheets. The balances in the inventory accounts at the beginning of the year were: Raw Materials Work in Process Finished Goods $ 34,000 $ 25,000 $ 64,000 Required: 1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) 3. Prepare a schedule of cost of goods manufactured. 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement for the vear. Reg 1 Reg 2 Reg 3 Req 4A Reg 4 Reg 5 Prepare journal entries to record the preceding transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) No Transaction General Journal Credit Debit 220,000 1 Raw materials Accounts payable 220,000 2 b. Work in process Raw materials ol 205,000 205,000 3 C. Manufacturing overhead Utilities expense Accounts payable OOO 56,700 6,300 63,000 4 d. 250,000 94,000 Work in process Manufacturing overhead Salaries expense Salaries and wages payable OOOO 130,000 474,000 5 e. 58,000 Manufacturing overhead Accounts payable ol 58,000 6 . 140,000 Advertising expense Accounts payable olo 140,000 7 9. Manufacturing overhead Depreciation expense Accumulated depreciation loo 74,800 13,200 88,000 8 h. Manufacturing overhead Rent expense Accounts payable lololo 101,700 11,300 113,000 9 408,500 Work in process Manufacturing overhead OOO 408,500 10 810,000 Finished goods Work in process olol 810,000 11 k(1), Accounts receivable 1,400,000 010 Sales 1,400,000 12 k(2). 840,000 Cost of goods sold Finished goods lolo 840,000 Reg Reg 2 > Reg 1 Reg 2 Reg 3 Req 4A Req 48 Reg 5 Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) Accounts Receivable Sales Debit Beginning Balance k k Credit 0 Debit Beginning Balance 0 0 Credit 0 1,400,000 1,400,000 Ending Balance 1,400,000 Ending Balance 1,400,000 Raw Materials Cost of Goods Sold Credit Credit Debit Beginning Balance 34000 0 Debit Beginning Balance k 0 840,000 a. 220,000 205,000 Ending Balance 840,000 Ending Balance 49,000 Work in Process Manufacturing Overhead Credit Debit Beginning Balance Debit Beginning Balance Credit 0 0 0 b. C. 25,000 205,000 250,000 408,500 d. d d. le e. 0 0 56,700 94,000 58,000 74,800 101.700 1. 810,000) 9. 9 h. Ending Balance 78,500 408,500 23,300 Ending Balance Finished Goods Advertising Expense Credit Credit Debit Beginning Balance 0 Debit Beginning Balance f. 64,000 810,000 0 . 140,000 840,000K . Ending Balance 140,000 Ending Balance 34.000 Utilities Expense Credit Accumulated Depreciation Debit Credit Beginning Balance D 0 88,000 9. Debit Beginning Balance c. 0 0 6,300 Ending Balance 88,000 Ending Balance 6,300 Salaries Expense Credit Debit Beginning Balance Debit Beginning Balance d. 0 130,000 Accounts Payable Credit 0 0 0 220,000 a. 63,000 C c. 58,000 e. 140.000 113,000 h. Ending Balance 130,000 Ending Balance 594,000 Depreciation Expense Debit Beginning Balance 9. Credit 0 0 Salaries & Wages Payable Debit Credit Beginning Balance 0 0 474,000d . D 13,200 Ending Balance 13,200 Ending Balance 474,000 Rent Expense Debit Beginning Balance Credit 0 0 0 0 11,300 h. Ending Balance 11,300 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req 3 Req 4A Req 4B Reg 5 Prepare a schedule of cost of goods manufactured. Froya Fabrikker A/S Schedule of Cost of Goods Manufactured Beginning work in process inventory Direct materials: $ 25,000 $ 34,000 220,000 254,000 49,000 S Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available Less: Ending raw materials inventory Direct materials used in production Direct labor Manufacturing overhead applied to work in process Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured 205,000 250,000 408,500 25,000 78,500 Req 1 Reg 2 Reg 3 Req 4A Req 4B Reg 5 Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction General Journal Debit Credit Req 1 Reg 2 Reg 3 Req 4A Req 4B Reg 5 Prepare a schedule of cost of goods sold. Froya Fabrikker A/S Schedule of Cost of Goods Sold Req 1 Reg 2 Reg 3 Req 4A Req 4B Reg 5 Prepare an income statement for the year. Froya Fabrikker A/S Income Statement For the Year Ended 0 Selling and administrative expenses: 0 $ 0