The Baggins Company uses a job-order costing system and applies manufacturing overheald to jobs on the basis of the cost of materials used in production. At the beginning of the most recent year, the following estimates were made as a basis for computing the predetermined overhead rate for the year Manufacturing overhead cost: $200,000 Direct materials cost: $160,000 transactions took place during the year (all purchases and services were acquired The following on account): a) Raw materiais requisitioned for use in production (all direct materials) $98,000. c.) Utility costs incurred in the factory: $15,000. d.) Salaries and wages incurred as follows: $175,000 $70,000 Direct labour: Indirect labour: Selling and administrative salaries: $125,000 e.) Maintenance costs incurred in the fact g.) Depreciation recorded for year ory: $15,000. costs incurred theyear $80,000, ofwhich 80% relates to factory assets and the relates r ed on buildings. $70,000 (75% of the space is occupied by the factory, and nistrative assets h.) Rental cost incurred building 25% is occupied by sales and adm inistration). selling and administrative costs incurred: $11,000 overhead cost was applied to jobs as per company policy i.) Manufactuod manufactured for the year:$500,000. ost o gods ear call on account) $1,000,000. These goods cost 5600,000 to manufacture. k.) 1.) Sales for the year (all on Required Prepare journal entries to record the information lurough 1. (15 marks) above. Mark your entries by the letters a