value: 1.66 points Gold Nest Company of Guandong, China market. commissions on their sales. All of the company's transactions with customers, employees, a are conducted in cash; there is no credit. China, is a family-owned enterprise that makes birdcages for the South The company sells its birdcages through an extensive network of street vendors who receive nd suppliers company uses a job-order costing system in which overhead is applied to jobs on the basis of direct s predetermined overhead rate is based on a cost formula that estimated $67,500 of manufacturing overhead for an estimated activity level of $45,000 direct labor dollars. At the beginning of The the year, the inventory balances were as follows: Raw materials Work in process Finished goods S 10,800 $4,100 S 8,200 During the year, the following transactions were completed: b. Raw materials requisitioned for use in production, $145,000 (materials costing $121,000 were chargea materials purchased for cash, $165,000 directly to jobs; the remaining materials were indirect) c. Costs for employee services were incurred as follows Direct labor Indirect labor Sales commissions Administrative salaries $ 172,000 $ 176,600 S 26,000 S 44,000 d. Rent for the year was $18,600 ($13,600 of this amount related to factory operations, and the remainder related to selling and administrative activities). e. Utility costs incurred in the factory, $11,000 f. Advertising costs incurred, $13,000 g. Depreciation recorded on equipment, $21,000. ($18,000 of this amount was on equipment used in factory operations, the remaining $3,000 was on equipment used in selling and administrative activities ) h. Manufacturing overhead cost was applied to jobs, $? i. Goods that had cost $226,000 to manufacture according to their job cost sheets were completed. ). Sales for the year totaled $512,000. The total cost to manufacture these goods according to their job cost sheets was $217,000 O Type here to search