Sonst birdcages through an extensive network of street vendors who receive commissions on their sales The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct fabor cost. Its predetermined overhead rate is based on a cost formula that estimated $60,000 of manufacturing overhead for an estimated activity level of $40,000 direct lobor dollars. At the beginning of the year, the inventory balances were as follows: Raw material Work in process Finished goods $10,400 54,400 5.9.000 During the year, the following transactions were completed: Raw materiais purchased on account, S162,000 b. Raw materials used in production. $141,000 (materials costing $130,000 were charged directly to jobs the remaining materials were indirect) Costs for employee services were incurred as follows: Direct labor Indirect labor Salon Commissions Administrative salaries 5152,000 5161,700 $ 24,000 $ 45,000 d Rent for the year was $19.000 ($13.400 of this amount related to factory operations, and the remainder related to selling and administrative activities) Utility costs incurred in the factory, $13,000 Advertising costs incurred, $12,000, 9 Depreciation recorded on equipment $25,000 ($15,000 of this amount related to equipment used in factory operations, the remaining $10,000 related to equipment used in selling and administrative activities) in Manufacturing overhead cost was applied to jobs. $? Goods that had cost $227,000 to manufacture according to their job cost sheets were completed Sales for the year (all paid in cash) totaled $510,000 The total cost to manufacture these goods according to thonjo cost sheets was $219,000 Required: 1. Prepare journal entries to record the transactions for the year