yout References Mailings Review View Tell me AA E91 S Aallo ARA A IP Cata AaBb 4c404 NHCHA MCLBP. Set The Collins Company uses a job-order costing system and applies manufacturing overhead cost 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 The following transactions took place during the year (all purchases and services were acquired on account); a.) Raw materials purchased: 86,000 b.) Raw materials requisitioned for use in production (all direct materials): 598.000 c.) Utility costs incurred in the factory: $15,000. d.) Salaries and wages incurred as follows: Direct labour: $175.000 Indirect labour $70,000 Selling and administrative salarice: $125,000 c.) Maintenance costs incurred in the factory: $15.000. f) Advertising costs incurred: $89,000. 8.) Depreciation recorded for the year. $80,000, of which 80% relates to factory assets and the Temainder relates to selling and administrative assets. h.) Rental cost incurred on buildings: $70,000 (75% of the space is occupied by the factory, and 25% is occupied by sales and administration) 1) Miscellaneous selling and administrative costs incurred: $11,000 1.) Manufacturing overhead cost was applied to jobs as per company policy k.) Cost of goods manufactured for the year: 500.000 1 1.) Sales for the year (all on account: $1,000,000. These goods cost $600,000 to manufacture in ngilah ombed States Tecus MacBook Air 3 00 Dn F2 19 SO ) 3 $ 4 & 7 5 6 00 9 E R T Y U T 0 Layout References Malings Review View Tell me AA 22! AUDI Aa A -A Art C. AaBb Cr king Chung C A ES ST Direct labour $175,000 Indirect labour $70,000 Selling and administrative salaries: $125,000 e.) Maintenance costs incurred in the factory: $15,000 f) Advertising costs incurred: 589,000. 5.) Depreciation recorded for the year: $80,000, of which 80% relates to factory assets and the remainder relates to selling and administrative assets. h.) Rental cost incurred on buildings: $70,000 (75% of the space is occupied by the factory, and 25% is occupied by sales and administration) 1) Miscellaneous selling and administrative costs incurred: $11,000. 1.) Manufacturing overhead cost was applied to jobs as per company policy k.) Cost of goods manufactured for the year. $500,000 1.) Sales for the year (all on account): S1,000,000. These goods cost $600,000 to manufacture Required: 1- Prepare joumal entries to record the information above. Key your entries by the letters a through 2. Prepare the Journal entry to close out the Overapplied or Lindstarplied MOH to Cost of I English (United States focus MacBook Air 131 So 194 24 og UD OM FB % . > $ 4 & 7 C 9 3 5 6 8 O . E R Y U 0 D F G H J L