YouTube lon.com%252Fmghmiddlewarex 252Fm Maps ..50 Save Help Save & EX Chech Ravsten Company uses a job-order costing system. On January 1, the beginning of the current year, the company's inventory balances were as follows: Raw materials Work in process Finished goods $20,000 $11,600 $ 39,800 The company applies overhead cost to jobs on the basis of machine-hours. For the current year, the company estimated that it would work 36.800 machine hours and incur $171,120 in manufacturing overhead cost. The following transactions were recorded for the year a. Raw materials were purchased on account: $216.000 b. Raw materials were requisitioned for use in production: $198.000 (80% direct and 20% indirect). c. The following costs were incurred for employee services. Direct labour Indirect labour Sales comissions Administrative salaries $166,400 $ 28,600 $ 38,400 $ 83,200 Prey 1 of 3 Next > ming O h5 Saved Help Save & Ch d. Heat, power, and water costs were incurred in the factory: $45,600 e. Prepaid insurance expired during the year. $14,000 (85% relates to factory operations, and 15% relates to selling and administrative activities) 1. Advertising costs were incurred, $54,000. g. Depreciation was recorded for the year. $64,800 (90% relates to factory operations, and 10% relates to selling and administrative activities) h. Manufacturing overhead cost was applied to production. The company recorded 41,600 machine-hours for the year. 1. Goods that cost $515.400 to manufacture according to their job cost sheets were transferred to the finished goods warehouse J. Sales for the year totalled $737.200 and were all on account. The total cost to manufacture these goods according to their job cost sheets was $508,800. Required: 1. Prepare journal 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.) View transaction list Journal entry worksheet 2 3 5 6 7 B 11 Rrey 1 of 3 Next > ything O RI C ** $