Vaden Company is a manufacturing firm that uses job-order costing. At the

beginning pf the year, the company s inventory balances were as follows:

Raw materials $39,000

Work in process $49,000

Finished goods $10,000

The company applies overhead to jobs using a predetermined overhead rate based

on machine-hours. At the beginning of the year the company estimated that it

would work 22,000 machine-hours and incur $264,000 in manufacturing overhead

cost. The following transactions were recorded for the year:

Raw materials were purchased. $301,000.

Raw materials were requisitioned for use in production, $292,000 ($273,000

direct and $19,000 indirect).

iii. The following employee costs were incurred; direct labour- $296,000;

indirect labour - $81,000; and administrative salaries, $181,000. iv.

Selling costs $130,000.

Factory utility costs' $18,000.

Depreciation for the year was $162,000 of which $155,000 is related to

factory operations and $7,000 is related to selling and administrative

activities,

vii. Manufacturing overhead was applied to jobs.

The actual level

of activity for the year was 21.000 machine-hours.

viii. Goods totaling $839,000 were transferred to finished goods,

Sales for the year totalled $1,200,000 and the costs on the job cost sheets df

the goods that were sold totalled $824,000,

x. The balance in the Manufacturing Overhead account was closed out to

Cost of Goods Sold.

- Show the appropriate journal entries for each of the above items.

- Show in T-accounts the year-end balances for each of the inventory accounts. the cost

of goods sold and manufacturing overhead.