Please answer the following question below please there are some I got wrong that need to be fixed.

Question:

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 $23,000

Work in process $12,800

Finished goods $31,400

The company applies overhead cost to jobs on the basis of machine-hours. For the current year, the company estimated that it would work 37,400 machine-hours and incur $157,080 in manufacturing overhead cost. The following transactions were recorded for the year:

a. Raw materials were purchased on account: $228,000.

b. Raw materials were requisitioned for use in production: $204,000 (85% direct and 15% indirect).

c. The following costs were incurred for employee services:

Direct labour $171,200

Indirect labour $29,800

Sales commissions $40,200

Administrative salaries $85,600

d. Heat, power, and water costs were incurred in the factory: $48,300.

e. Prepaid insurance expired during the year: $17,000 (80% relates to factory operations, and 20% relates to selling and administrative activities).

f. Advertising costs were incurred, $57,000.

g. Depreciation was recorded for the year: $68,400 (75% relates to factory operations, and 25% relates to selling and administrative activities).

h. Manufacturing overhead cost was applied to production. The company recorded 42,800 machine-hours for the year.

i. Goods that cost $521,000 to manufacture according to their job cost sheets were transferred to the finished goods warehouse.

j. Sales for the year totalled $765,100 and were all on account. The total cost to manufacture these goods according to their job cost sheets was $513,200.

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.) Answer is complete and correct. No Transaction General Journal Debit Credit 1 a. Raw materials 228,000 Accounts payable V 228,000 2 b. Work in process 173,400 Manufacturing overhead 30,600 Raw materials 204,000 3 C. Work in process 171,200 Manufacturing overhead 29,800 search O 2/my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indic Manufacturing overhead 29,800 Sales commissions expense 40,200 Administrative salaries expense 85,600 Salaries and wages payable 326,800 4 d. Manufacturing overhead 48,300 Accounts payable 48,300 5 e. Manufacturing overhead 13,600 Insurance expense 3,400 Prepaid insurance 17,000 6 f. Advertising expense 57,000 Accounts payable 57,000 7 g. Manufacturing overhead 51,300 earch O wmy work mode : This shows what is correct or incorrect for the work you have completed so far. It does not inc 7 g. Manufacturing overhead 51,300 Depreciation expense 17,100 Accumulated depreciation 68,400 8 h Work in process O 179,760 Manufacturing overhead 179,760 9 i. Finished goods 521,000 Work in process 521,000 10 j-1 . Accounts receivable 765,100 Sales 765, 100 11 J- 2. Cost of goods sold 513,200 Finished goods 513,200 ch O W2. Prepare T-accounts for inventories, Manufacturing Overhead, and Cost of Goods Sold. Post relevant data from your journal entries to these T-accounts (don't forget to enter the opening balances in your inventory accounts). Compute an ending balance in each account. x Answer is not complete. Raw Materials Manufacturing Overhead Beg. Bal. 23,000 204,000 X Beg. Bal. 30,600 X 179,760 x 228,000 29,800 End. Bal. 47,000 48,300 13,600 51,300 173,600 x End. Bal. 167,440 earch O WWork in Process Cost of Goods Sold Beg. Bal. 12,800 521,000 X Beg. Bal. $ 513,200 X 173,400 171,200 End. Bal. 513,200 179,760 End. Bal. 16, 160 Finished Goods Beg. Bal. 31,400 513,200 X 521,000 End. Bal. 39,200 arch W3-b. Prepare a journal entry to properly dispose of any balance in the Manufacturing Overhead account. (Do not round intermediate calculations and round your final answers to 2 decimal places. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) x Answer is not complete. No Event General Journal Debit Credit A 1 Manufacturing overhead 6,160.00 Cost of goods sold 6, 160.00 X arch O i wx Answer is not complete. RAVSTEN COMPANY Income Statement For the Year Ended December 31 Sales $ 765, 100 Cost of goods sold 507,040 X Gross profit 258,060 Selling and administrative expenses: Sales commissions $ 40,200 Administrative salaries 85,600 Insurance expense 20,500 X Advertising expenses 57,000 203,300 Operating income 54,760