The company applies overhead cost tojobs on the basis of machine-hours. For the current year, the company estimated that it would work 36,000 machinehours and incur $159,480 in manufacturing overhead cost. The following transactions were recorded for the yean a. Raw materials were purchased on account: $209,000. b. Raw materials were requisitioned for use in production: $199,000 (80% direct and 20% indirect). c. The following costs were incurred for employee services: Direct labour $169,000 Indirect labour $ 28,800 Sales commissions $ 37,800 Administrative salaries $ 83,600 d. Heat, power, and water costs were incurred in the factory: $43,800. e. Prepaid insurance expired during the year: $11,800 (90% relates to factory operations, and 10% relates to selling and administrative activities). f. Advertising costs were incurred, $51,800. g. Depreciation was recorded for the year: $61,200 (85% relates to factory operations, and 15% relates to selling and administrative activities). h. Manufacturing overhead cost was applied to production. The company recorded 40,000 machine-hours for the year. i. Goods that cost $501,600 to manufacture according to theirjob cost sheets were transferred to the nished goods warehouse. j. Sales for the year totalled $763,000 and were all on account. The total cost to manufacture these goods according to theirjob cost sheets was $493,000. Required: 1. Preparejournal entries to record the transactions given above. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Raw materials were purchased on account: $209,000. Note: Enter debits before credits. Record entry Clear entry View general journal Journal entry worksheet Raw materials were requisitioned for use in production: $199,000 (80% direct and 20% indirect). Note: Enter debits before credits. Record entry Clear entry View general journal Journal entry worksheet Record the costs that were incurred for employee services. Note: Enter debits before credits. Record entry Clear entry View general journal Journal entry worksheet Heat, power, and water costs were incurred in the factory: $43,800. Note: Enter debits before credits. Record entry Clear entry View general journal Journal entry worksheet Depreciation was recorded for the year: $61,200 (85% relates to factory operations, and 15% relates to selling and administrative activities). Note: Enter debits before credits. Record entry Clear entry View general journal Journal entry worksheet Manufacturing overhead cost was applied to production. The company recorded 40,000 machine-hours for the year. Note: Enter debits before credits. Transaction General Journal Debit Credit h. Record entry Clear entry View general journalJournal entry worksheet 1 . . . . . 4 5 6 7 8 9 11 Goods that cost $501,600 to manufacture according to their job cost sheets were transferred to the finished goods warehouse. Note: Enter debits before credits. Transaction General Journal Debit Credit i. Record entry Clear entry View general journalJournal entry worksheet Sales for the year totalled $763,000 and were all on account. Note: Enter debits before credits. Record entry Clear entry View general journal Journal entry worksheet The total cost to manufacture these goods according to their job cost sheets was $493,000. Note: Enter debits before credits. Record entry Clear entry View general journal