The Company uses a job-order costing system and applies manufacturing overhead cost to jobs predetermined overhead rate bases on the cost of materials using a of the used in production. At the beginning the year, the following estimates were made as a basis for computing of the year, the following estimates were made as a basis for computing the predetermined overhead rate: manufacturing overhead cost, $186,000; direct materials cost, %155,000. The following transactions took place during the year (all purchases and services were acquired on account): Raw materials purchased, $96,000. Raw materials requisitioned for use in production (all direct materials), $88,000 Utility bills incurred in the factory, $17,000 Costs for salaries and wages incurred as follows: Director labor. $174,000 Indirect labor $70,000 Selling and administrative salaries $124,000 Maintenance costs incurred in the factory, $12,000. Advertising costs incurred, $98,000. Depreciation recorded for the year, $ 75,000 (75 percent relates to factory assets and the remainder relates to selling, general, and administrative assets). Rental cost incurred on buildings, $80,000 (80 percent of the space is occupied by the factory, and 20 percent is occupied by sales and administration) Miscellaneous selling, general, and administrative costs incurred $12,000. Manufacturing overhead cost was applied to jobs. Cost of goods manufactured for the year, $480,000. Sales for the year (all on account) totaled $900,000. These goods cost $550,000 to manufacture. Required: Prepare journal entries to record the information above