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2. Prepare F-accounts for inventories, Manufactuing Overhead, and Cost of Goods Sold. Post relevant data from your joumal entnes to these T-accounts (don't forget to enter the opening balarces in your inventory accounts). Compute an ending balance in each account. d. Heat, power, and water costs were incurred in the factory, $42,600 e. Prepaid insurance expered during the year $10,600 (90\% relates to factory operations, and 10% relates to seling and adrainistrative actrities) f. Advertising costs were incurred, $50.600 g. Depreciation was recorded for the year $60,800(85% relates to factory operations, and 15% relates to selling and administrative activities] h. Manufacturing overhead cost was applied to production. The company recorded 40000 machine hours for the year 1. Goods that cost $487,200 to manufacture according to their job cost sheets were transferred to the finished goods warehouse. 1. Sales for the year totalled $721,000 and were all on account The total cost fo manufacture these goods according to their job cost sheets was $481,000 Required: 1. Prepare journal entries to record the transactions given above. (Do not round intermediate calculations. If no entry is required for bransaction/event, select "No journol entry required" in the first account field.) 3-0. Is manufacturing overhead underapplied or overapplied for the year? Underapplied overhead Overapplied overhead 3-b. Prepare a journal entry to properly dispose of any balance in the Manufacturing Overhead account (Round your percentages and final answers to 2 decimal ploces. If no entry is required for o tronsectionievent, select "No journal entry required" in the fint occount field.) Ravsten Company uses a job-order costing system. On January 1 the beginning of the current year, the companys inventory batanceswere as follows The company applies overhead cost to jobs on the basis of machine hours. For the current yeat, the company estimated that it would work 36,000 machine hours and incur $155,160 in mafufacturing overhead cost. The following transactions were recorded for the year a. Raw matenals were purchased on account $203,000. b. Raw materials were requisitioned for use in production, $193,000,0805, direct and 20% indinect). C. The following costs were incurred for emplovee services

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