Submitting a text entry box or a file upload Gold Nert Company of Gusndoas. China, is a familyrowned enterprite that makes birdcages for the South China atarket. The company 5 its birdcyses through in extensive netwodk of street vendors who receive commissions on their aaies. Tate sompany uset a joborder cocting syttem in which overhead is applied to jobs on the batis of direct labor coct. ler predetermine direct labor dollarn. At the bejining of the jear, the inveatory balances were as follow: During the year, the following transactions mere completed: 2. Rum materials parchased on account, 5275,000 . b. Rew materials used in production, 5250,000 (materials cocting $230,000 were charged directh' to jobs; the retanining materials were. indirect). c. Costs for empioget services wert incurred as follow: d. Rent for the jear was $18,000 ( $13,000 of this amount telased to factory operations, and the remainder teiated to selling and idministrative activities). e. Ublity cocts incurred in the Sactory, $57,000 1. Advertisins costs incurred, $140,000 1. Depeecision recorded on equipment, $100,000. $88,000 of this amount related to equipeaent aied in factary operatican, 1he seenainits 512,000 related to equiperent used in velling and adminintrative activiter ) h. Manuluctunng overaead coct was epplied to jobs, 3 , 4. 1. Goods that bad cost 5675,000 to manufucture accoedint to their job cost theets wese completed. I. Sales for the year (ali puid is cosh) cotaled $1,250,000. The totat cent to manalacture these goodr accordind to their job cont ahentr mas 1700,000 Requilred: 1. Prepase journal entries to record the transactions for the year. eatrits to these T-accouats (dep't forget to estec the beginning balances in yoar imventory accounta), Cempute an ending balasee in ewat scecurtit Ovthead account to Cout of Goods Sold. the incetein atatement is waleble in the jemrnal entries and T accounts jou have prepaced)